Source: PaxForex Premium Analytics Portal, Technical Insight
European Central Bank (ECB) policymaker Martins Kazaks said in a statement on Thursday, “It's clear we need to raise interest rates.”
EUR/CAD,D1
Pivot: 1.3451
Analysis:
As long as the price is below 1.3550 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3451
- Take Profit 1: 1.3355
- Take Profit 2: 1.3240
Alternative scenario:
If the level of 1.3550 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3550
- Take profit 1: 1.3715
- Take Profit 2: 1.3800
Comment:
RSI indicates downside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.3800 | 1.3355 |
| 1.3715 | 1.3240 |
| 1.3550 | 1.3150 |
