Source: PaxForex Premium Analytics Portal, Technical Insight
Crude Oil prices hold steady near a two-week high touched on Thursday amid the latest optimism about a strong fuel demand recovery in China - the world's top importer. This, in turn, is seen underpinning the commodity-linked Loonie.
EUR/CAD,D1
Pivot: 1.4364
Analysis:
As long as the price is above 1.4250 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4364
- Take Profit 1: 1.4570
- Take Profit 2: 1.4700
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 |
| 1.4800 | 1.4250 |
| 1.4700 | 1.4150 |
| 1.4570 | 1.4090 |
