Source: PaxForex Premium Analytics Portal, Technical Insight

ECB’s Vasle: Further interest-rate increases will be needed.

EUR/CAD,D1

Pivot: 1.4599

Analysis:

As short as the price is below 1.4750 follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.4599
• Take Profit 1: 1.4500
• Take Profit 2: 1.4400

Alternative scenario:

If the level of 1.4750 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4750
• Take profit 1: 1.4850
• Take Profit 2: 1.4935

Comment:

RSI indicates downside potential in the medium term.

Key levels: