Source: PaxForex Premium Analytics Portal, Technical Insight

European Central Bank (ECB) executive board member Isabel Schnabel said on Thursday, “we must further increase interest rates.”

EUR/CAD,D1

Pivot: 1.3245

Analysis:

As long as the price is above 1.3000 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3245
• Take Profit 1: 1.3390
• Take Profit 2: 1.3525

Alternative scenario:

If the level of 1.3000 is broken-down, follow the recommendations below: 

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3000
• Take profit 1: 1.2875
• Take Profit 2: 1.2750

Comment:

RSI indicates upnside potential in the medium term.

Key levels: