Source: PaxForex Premium Analytics Portal, Technical Insight
Thursday PMIs crucial for Euro as economists pencil in “outright contraction”.
EUR/CAD,D1
Pivot: 1.4910
Analysis:
As long as the price is above 1.4800 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4910
- Take Profit 1: 1.5000
- Take Profit 2: 1.5100
Alternative scenario:
If the level of 1.4800 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4800
- Take profit 1: 1.4700
- Take Profit 2: 1.4600
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5200 | 1.4800 |
| 1.5100 | 1.4700 |
| 1.5000 | 1.4600 |
