Source: PaxForex Premium Analytics Portal, Technical Insight

Statements by officials of the European central bank maintain the environment that ECB should follow a more aggressive policy in future interest rate increases.

EUR/CAD,D1

Pivot: 1.3904

Analysis:

As long as the price is above 1.3700 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3904
• Take Profit 1: 1.4000
• Take Profit 2: 1.4100

Alternative scenario:

If the level of 1.3700 is broken-down, follow the recommendations below: 

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3700
• Take profit 1: 1.3600
• Take Profit 2: 1.3400

Comment:

RSI indicates upside potential in the medium term.

Key levels: