EUR/CAD Analisis teknis | EUR/CAD Jual beli: 2024-03-22 | IFCM Indonesia
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EUR/CAD Analisis teknis - EUR/CAD Jual beli: 2024-03-22

EUR/CAD Technical Analysis Summary

Accelerometer arrow
Kuat JualSellNeutralBuyKuat Beli

Bawah 1.4683

Sell Stop

Atas 1.4737

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Artikel 2472
IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(200) Buy
Fractals Sell
Parabolic SAR Sell

EUR/CAD Chart Analysis

EUR/CAD Chart Analysis

EUR/CAD Analisis Teknis

The technical analysis of the EURCAD price chart on 4-hour timeframe shows EURCAD,H4 is declining toward the 200-period moving average MA(200) which is rising itself still. We believe the bearish momentum will continue after the price breaches below the lower bound of the Donchian channel at 1.4683. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.4737. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis Forex - EUR/CAD

German business activity decline slowed in March. Will the EURCAD price rebound ?

The downturn in German economy eased slightly in March: S&P Global report showed HCOB Flash Germany Composite PMI Output Index improved to a three-month high of 47.4 in March from February’s 46.3. Readings above 50.0 indicate industry expansion, below indicate contraction. The uptick in the index was driven mainly by improvement in Flash Germany Services PMI index to 6-month high of 49.8 in March from February’s 48.3. While activity decline in manufacturing deepened, the near stabilization of business activity in the country’s service sector resulted in easing of the downturn in German private sector. Easing of the downturn in private sector of euro area’s largest economy is bullish for the euro and hence for the EURCAD currency pair. Earlier, the Statistics Canada had reported Canada’s inflation cooled in February. Slowing Canadian consumer prices inflation is bearish for Canadian dollar and bullish still for EURCAD currency. However current setup is bearish for EURCAD.

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