Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/CAD has been in a rally after bottoming around the 1.32925 crucial support. Improving sentiment across the euro has helped the common currency to touch the 50-EMA against the Canadian dollar
EUR/CAD,D1
Pivot: 1.3570
Analysis:
As long as the price is above 1.3480 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3570
- Take Profit 1: 1.3715
- Take Profit 2: 1.3800
Alternative scenario:
If the level of 1.3480 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3480
- Take profit 1: 1.3355
- Take Profit 2: 1.3240
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.3900 | 1.3400 |
| 1.3800 | 1.3355 |
| 1.3715 | 1.3240 |
