Source: PaxForex Premium Analytics Portal, Technical Insight
ECB’s Visco: More rate hikes are not the only way to curb inflation.
EUR/CAD,D1
Pivot: 1.4413
Analysis:
As long as the price is below 1.4600 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4413
- Take Profit 1: 1.4300
- Take Profit 2: 1.4200
Alternative scenario:
If the level of 1.4600 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4600
- Take profit 1: 1.4780
- Take Profit 2: 1.4850
Comment:
RSI indicates downside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4850 | 1.4300 |
| 1.4780 | 1.4200 |
| 1.4600 | 1.4100 |
