Source: PaxForex Premium Analytics Portal, Technical Insight
The euro remains on the backfoot as the main driver of its recent performance was the market's confidence that the ECB will maintain its hawkish strategy.
EUR/CAD,D1
Pivot: 1.4586
Analysis:
As long as the price is above 1.4500 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4586
- Take Profit 1: 1.4800
- Take Profit 2: 1.4900
Alternative scenario:
As long as the price is above 1.4500 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4500
- Take profit 1: 1.4400
- Take Profit 2: 1.4300
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5000 | 1.4500 |
| 1.4900 | 1.4400 |
| 1.4800 | 1.4300 |
