EUR/CAD | Euro to Canadian Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

Canada: the trade balance surplus narrowed to CAD 1.5 billion in April.

EUR/CAD,D1

Pivot: 1.3472

Analysis:

As long as price is above 1.3440 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3472
• Take Profit 1: 1.3600
• Take Profit 2: 1.3770

Alternative scenario:

If the level of 1.3440 is broken-down, follow the recommendations below:                          

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3440
• Take profit 1: 1.3385
• Take Profit 2: 1.3300

Comment:

RSI indicates upside potential in the medium term.

Key levels: