Source: PaxForex Premium Analytics Portal, Technical Insight

The market is feeling more confident that the ECB will stick to the 50 bp hike today that it had signaled before the US financial crisis.

EUR/CAD,D1

Pivot: 1.4585

Analysis:

As long as the price is above 1.4250 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4585
• Take Profit 1: 1.4700
• Take Profit 2: 1.4780

Alternative scenario:

If the level of 1.4250 is broken-down, follow the recommendations below: 

• Time frame: D1
• Recommendation: short position
• Entry point: 1.4250
• Take profit 1: 1.4090
• Take Profit 2: 1.3940

Comment:

RSI indicates upside potential in the medium term.

Key levels: