Source: PaxForex Premium Analytics Portal, Technical Insight
The European Central Bank is expected to lift its benchmark rate by a smaller step of 25 basis points Thursday, as core inflation declines and its own survey data points to much tighter financial conditions in the region.
EUR/CAD,D1
Pivot: 1.5081
Analysis:
As long as the price is above 1.4930 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5081
- Take Profit 1: 1.5100
- Take Profit 2: 1.5250
Alternative scenario:
If the level of 1.4930 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4930
- Take profit 1: 1.4800
- Take Profit 2: 1.4680
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5300 | 1.4930 |
| 1.5250 | 1.4800 |
| 1.5100 | 1.4680 |
