EURCAD TECHNICAL ANALYSIS: WEEKLY SCENARIO
05 Jun 2023
EURCAD: WEEKLY SCENARIO
EURCAD Technical Analysis: Weekly Chart
In the weekly charts, EURCAD was trading in an up channel. EURCAD is currently trading above all SMA except MA (5).
RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 1.40000 the resistance level is at 1.48000
EURCAD was traded in an up channel before there is a downside breakout.
EURCAD Technical Analysis: Daily Chart
In the daily charts, EURCAD is trading in an up channel. EURUSD is currently trading below all SMA
RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bullishness.
Its immediate support is 1.40000 the resistance level is at 1.45000
EURUSD will trade in a down channel until there is a trend reversal.
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How to Trade EURCAD this Week:
EURCAD will follow the downtrend until its trend reversal. So, remain bearish on EURCAD.