Source: PaxForex Premium Analytics Portal, Technical Insight
The Euro remains upbeat as investors hope that higher interest rates for longer by the Fed will slow down the pace at which the ECB was anticipated to return to policy normalization.
EUR/CAD,D1
Pivot: 1.4814
Analysis:
As long as the price is above 1.4600 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4814
- Take Profit 1: 1.4900
- Take Profit 2: 1.5000
Alternative scenario:
If the level of 1.4600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4600
- Take profit 1: 1.4500
- Take Profit 2: 1.4400
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5100 | 1.4600 |
| 1.5000 | 1.4500 |
| 1.4900 | 1.4400 |
