Forex analytics and overview

Chart Of The Day: EUR/CAD

04/22/2022

Less than a minute

2022.04.22 03:01

Chart Of The Day: EUR/CAD EUR/CAD Daily Chart.

EUR/CAD has been on my radar in recent weeks. I am viewing this pair as a potential reversal (higher) candidate in the coming days. It has been in a descending wedge, which is a reversal pattern by definition. One of the characteristics of a descending wedge is to have a divergent RSI to accompany the pattern. As you can see, since early March this has been the case. Also, based on the long-term weekly charts, we are at the 61.8% Fibonacci retracement at 1.3655. A move above the 1.3750 would be needed to trigger a reversal for me.

04/22/2022

Less than a minute

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