Select Language

EUR/CAD Price Analysis: Buyers try to reclaim 20-day SMA after bearish crossover

Breaking news

EUR/CAD Price Analysis: Buyers try to reclaim 20-day SMA after bearish crossover

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2024.11.30 01:33
EUR/CAD Price Analysis: Buyers try to reclaim 20-day SMA after bearish crossover

update 2024.11.30 01:33

  • EUR/CAD rose by 0.26% on Friday.
  • A break and close below 1.4800 could signal further bearish momentum in the short term.

The EUR/CAD pair saw a slight uptick in Friday's session, climbing by 0.26% to reach 1.4825. However, despite this modest gain, the pair remains below its 20-day Simple Moving Average (SMA), having recently completed a bearish crossover between the 20 and 200-day SMAs. While buyers attempt to reclaim the 20-day SMA, indicators suggest a struggle, with the Relative Strength Index (RSI) recovering buying pressure and the Moving Average Convergence Divergence (MACD) indicating rising buying pressure and overall bullish momentum.

However, until the pair breaks above 1.4800, the short-term outlook remains negative. The mentioned crossover, combined with momentum not being entirely recovered, suggests that further gains may be limited.

EUR/CAD daily chart


Date

Created

 : 2024.11.30

Update

Last updated

 : 2024.11.30

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

NZD/USD Price Analysis: Pair edges lower to 0.5760 as selling pressure mounts

The NZD/USD pair struggled on Friday, slipping by 0.14% to 0.5760 and failing to hold onto gains that briefly lifted it toward the 0.5850 area.
New
update2024.12.14 06:38

Australian Dollar struggles under pressure as Fed policy shifts

The Australian Dollar exhibits a subdued performance in Friday's session, pressured by a strengthening US Dollar (USD).
New
update2024.12.14 06:00

EUR/USD Price Forecast: Hovers near 1.0500 post-ECB's rate cut

The EUR/USD remains reluctant to remain far from the 1.0500 figure for the fifth consecutive day, even though the ECB decided to cut rates on Thursday, which pushed the pair toward its weekly low of 1.0452.
New
update2024.12.14 05:12

Mexican Peso rebounds amid prospects of Fed rate cut

The Mexican Peso recovered after registering losses on Thursday and appreciated some 0.50% against the Greenback during the North American session.
New
update2024.12.14 04:12

US Dollar holds its ground on quiet Friday

The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, trades neutral on Friday with some minor gains in the US trading session.
New
update2024.12.14 03:35

Dow Jones Industrial Average extends losses, sheds another 100 points

The Dow Jones Industrial Average (DJIA) softened during a sedate Friday session.
New
update2024.12.14 03:32

Gold dips amid rising US yields ahead of next week's FOMC meeting

Gold price fell for the second consecutive day as high US Treasury bond yields weighed on the yellow metal.
New
update2024.12.14 01:35

EUR/USD Price Analysis: Pair recovers slightly, still below 20-day SMA

The EUR/USD pair managed a modest rebound on Friday, rising by 0.2% to 1.0495 after testing fresh lows earlier in the week.
New
update2024.12.14 01:01

Silver Price Forecast: XAG/USD retreats below $32.00 amid high US yields

Silver prices dropped on Friday after buyers could not hold prices above $31.00.
New
update2024.12.13 23:20

USD/CAD Price Forecast: Sets to rally further

The USD/CAD pair refreshes more than a four-year high around 1.4240 on Friday.
New
update2024.12.13 23:08

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel