Source: PaxForex Premium Analytics Portal, Technical Insight
Canadian Dollar will dance to the tunes of Employment data. According to the estimates, net addition in payrolls for December stands at 8K against 10.1K released earlier. The jobless rate will escalate marginally to 5.2%.
EUR/CAD,D1
Pivot: 1.4430
Analysis:
As long as the price is above 1.4130 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4430
- Take Profit 1: 1.4500
- Take Profit 2: 1.4600
Alternative scenario:
If the level of 1.4130 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4130
- Take profit 1: 1.3940
- Take Profit 2: 1.3740
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4650 | 1.4130 |
| 1.4600 | 1.3940 |
| 1.4500 | 1.3740 |
