Source: PaxForex Premium Analytics Portal, Technical Insight

European Central Bank President Christine Lagarde has repeatedly used the phrase “staying the course” when referring to upcoming rate decisions, but some market watchers doubt the bank will keep its hawkish stance for much longer.

EUR/CAD,D1

Pivot: 1.4633

Analysis:

As long as the price is above 1.4250 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4633
• Take Profit 1: 1.4700
• Take Profit 2: 1.4900

Alternative scenario:

If the level of 1.4250 is broken-down, follow the recommendations below: 

• Time frame: D1
• Recommendation: short position
• Entry point: 1.4250
• Take profit 1: 1.4090
• Take Profit 2: 1.3940

Comment:

RSI indicates upside potential in the medium term.

Key levels: