Source: PaxForex Premium Analytics Portal, Technical Insight
ING economists expect the European Central Bank (ECB) to maintain maximum flexibility at its March meeting. While this is largely priced in, it will make the euro vulnerable to the adverse impact of the conflict in Ukraine and high energy prices.
EUR/CAD,D1
Pivot: 1.4150
Analysis:
As long as price is above 1.4172 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4150
- Take Profit 1: 1.3955
- Take Profit 2: 1.3826
Alternative scenario:
If the level of 1.4172 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4172
- Take profit 1: 1.4450
- Take Profit 2: 1.4600
Comment:
RSI indicates downside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4600 | 1.3955 |
| 1.4450 | 1.3826 |
| 1.4172 | 1.3741 |
