Source: PaxForex Premium Analytics Portal, Technical Insight
Canada: the overall inflation rate may well accelerate again in May - CIBC.
EUR/CAD,D1
Pivot: 1.3672
Analysis:
As long as price is below 1.3750 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3470
- Take Profit 1: 1.3400
- Take Profit 2: 1.3200
Alternative scenario:
If the level of 1.3750 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3750
- Take profit 1: 1.3985
- Take Profit 2: 1.4160
Comment:
RSI indicates downside potential in the medium term.
Key levels:
Resistance | Support |
1.4160 | 1.3400 |
1.3985 | 1.3200 |
1.3750 | 1.3000 |