Source: PaxForex Premium Analytics Portal, Technical Insight
The Canadian dollar recouped losses after November’s GDP beat expectations.
EUR/CAD,D1
Pivot: 1.4625
Analysis:
As long as the price is above 1.4250 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4625
- Take Profit 1: 1.4700
- Take Profit 2: 1.4900
Alternative scenario:
If the level of 1.4250 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4250
- Take profit 1: 1.4090
- Take Profit 2: 1.3940
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5000 | 1.4250 |
| 1.4900 | 1.4090 |
| 1.4700 | 1.3940 |
