Source: PaxForex Premium Analytics Portal, Technical Insight
EUR continues to be weighed down by growing acceptance that the ECB will lower borrowing costs by 25 bps at each of the two policy meetings by the year-end.
EUR/CAD,D1
Pivot: 1.4997
Analysis:
As long as the price is above 1.4900 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4997
- Take Profit 1: 1.5200
- Take Profit 2: 1.5300
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 |
| 1.5400 | 1.4900 |
| 1.5300 | 1.4800 |
| 1.5200 | 1.4700 |
