Source: PaxForex Premium Analytics Portal, Technical Insight
European Central Bank (ECB) Governing Council member Madis Muller said on Thursday, “the ECB should likely raise rates by a little.”
EUR/CAD,D1
Pivot: 1.4921
Analysis:
As long as the price is above 1.4650 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4921
- Take Profit 1: 1.5000
- Take Profit 2: 1.5200
Alternative scenario:
If the level of 1.4650 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4650
- Take profit 1: 1.4500
- Take Profit 2: 1.4385
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5300 | 1.4650 |
| 1.5200 | 1.4500 |
| 1.5000 | 1.4385 |
