Source: PaxForex Premium Analytics Portal, Technical Insight
ECB policymaker Olli Rehn stated on Wednesday that the ECB could continue cutting interest rates if policymakers are confident that inflation is slowing in the near future.
EUR/CAD,D1
Pivot: 1.5022
Analysis:
As long as the price is above 1.4900 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5022
- Take Profit 1: 1.5100
- Take Profit 2: 1.5200
Alternative scenario:
If the level of 1.4900 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4900
- Take profit 1: 1.4800
- Take Profit 2: 1.4700
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5300 | 1.4900 |
| 1.5200 | 1.4800 |
| 1.5100 | 1.4700 |
