Source: PaxForex Premium Analytics Portal, Technical Insight
The Canadian dollar recouped losses after November’s GDP beat expectations.
EUR/CAD,D1
Pivot: 1.4400
Analysis:
As long as the price is above 1.4250 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4400
- Take Profit 1: 1.4540
- Take Profit 2: 1.4700
Alternative scenario:
If the level of 1.4250 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4250
- Take profit 1: 1.4150
- Take Profit 2: 1.4090
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4800 | 1.4250 |
| 1.4700 | 1.4150 |
| 1.4570 | 1.4090 |
