Source: PaxForex Premium Analytics Portal, Technical Insight
David Dodge: Bank of Canada is right to depend on data in rate hikes.
EUR/CAD,D1
Pivot: 1.4447
Analysis:
As long as the price is above 1.4130 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4447
- Take Profit 1: 1.4500
- Take Profit 2: 1.4600
Alternative scenario:
If the level of 1.4130 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4130
- Take profit 1: 1.3940
- Take Profit 2: 1.3740
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4650 | 1.4130 |
| 1.4600 | 1.3940 |
| 1.4500 | 1.3740 |
