Source: PaxForex Premium Analytics Portal, Technical Insight
This divergence in easing between the Bank of Canada and the Federal Reserve could potentially weaken the Canadian dollar further in the coming months.
EUR/CAD,D1
Pivot: 1.4694
Analysis:
As long as the price is above 1.4500 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4694
- Take Profit 1: 1.4800
- Take Profit 2: 1.4900
Alternative scenario:
If the level of 1.4500 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4500
- Take profit 1: 1.4400
- Take Profit 2: 1.4300
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5000 | 1.4500 |
| 1.4900 | 1.4400 |
| 1.4800 | 1.4300 |
