Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of Canada will go for a big rate hike but will take a pause before the Fed does - Reuters.
EUR/CAD,D1
Pivot: 1.3280
Analysis:
As long as the price is below 1.3400 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3280
- Take Profit 1: 1.3200
- Take Profit 2: 1.3100
Alternative scenario:
If the level of 1.3400 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3280
- Take profit 1: 1.3200
- Take Profit 2: 1.3100
Comment:
RSI indicates downside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.3600 | 1.3200 |
| 1.3510 | 1.3100 |
| 1.3400 | 1.3000 |
