Source: PaxForex Premium Analytics Portal, Technical Insight
European Central Bank (ECB) policymaker Boris Vujčić said on Wednesday, “the largest part of the rate-hiking cycle is behind us.”
EUR/CAD,D1
Pivot: 1.4689
Analysis:
As long as the price is above 1.4650 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4689
- Take Profit 1: 1.4790
- Take Profit 2: 1.4940
Alternative scenario:
If the level of 1.4650 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4650
- Take profit 1: 1.4500
- Take Profit 2: 1.4385
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.500 | 1.4650 |
| 1.4940 | 1.4500 |
| 1.4790 | 1.4385 |
