EURCAD - H1

Sunday, March 15, 2020 11:24 AM

EUR CAD Given the market conditions and the EUR CAD currency pair, we are seeing prices try to return to their previous weeks. The past week has seen a sharp jump in the beginning of the week, creating a price gap. On the other hand, the price could not close the gap due to the heavy economic pressure on Europe and the European banks' efforts to resist the severe global recession. So as a result of this release we are seeing a downside in the EUR CAD currency pair this week and we are targeting the key target at 1.4971.

The main support and resistance lines for the EUR CAD are as follows:

S1 : 1.5321

S2 : 1.5267

S3 : 1.5221

Pivot Points : 1.5366

R1 : 1.5418

R2 : 1.5465

R3 : 1.5517

EUR CAD Technical Analysis:

Indicator Analysis:

Up Signal:

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Descending signal:

RSI(14)

MACD(12,26)

ADX(14)

CCI(14)

Highs/Lows(14)

Ultimate Oscillator

ROC

Bull/Bear Power(13)

Moving Averages:

Up Signal:

MA 200

Descending signal:

MA 5

MA 10

MA 20

MA 50

MA 100

Due to the global developments and the spread of the corona virus in the world and especially the industrialized and important countries of the world, such as China, Japan, South Korea, Germany, Britain and the United States has imposed a severe downturn on the world economy. As a result, heavy economies in the region are facing a sharp drop in prices and large manufacturing companies are facing a sharp decline in sales. Oil sales have also fallen sharply, even falling to $ 27 a barrel.