Source: PaxForex Premium Analytics Portal, Technical Insight
ECB’s Kazaks: Rates to remain at 4.00% for some time, first rate cut could come around mid-2024.
EUR/CAD,D1
Pivot: 1.4617
Analysis:
As long as the price is below 1.4800 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4617
- Take Profit 1: 1.4600
- Take Profit 2: 1.4500
Alternative scenario:
If the level of 1.4800 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4800
- Take profit 1: 1.4900
- Take Profit 2: 1.5000
Comment:
RSI indicates downside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5000 | 1.4600 |
| 1.4900 | 1.4500 |
| 1.4800 | 1.4400 |
