Source: PaxForex Premium Analytics Portal, Technical Insight

ECB, Weidmann: upward inflation risks prevail in Germany and the euro area.

EUR/CAD,D1

Pivot: 1.4183

Analysis:

As long as price is above 1.4172 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4183
• Take Profit 1: 1.4350
• Take Profit 2: 1.4500

Alternative scenario:

If the level of 1.4172 is broken-down, follow the recommendations below:         

• Time frame: D1
• Recommendation: short position
• Entry point: 1.4172
• Take profit 1: 1.3995
• Take Profit 2: 1.3826

Comment:

RSI indicates upside potential in the medium term.

Key levels: