Source: PaxForex Premium Analytics Portal, Technical Insight
ECB, Knott: We are looking at a 50bp rate hike in July.
EUR/CAD,D1
Pivot: 1.3709
Analysis:
As long as price is above 1.3600 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3709
- Take Profit 1: 1.3800
- Take Profit 2: 1.3985
Alternative scenario:
If the level of 1.3600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3600
- Take profit 1: 1.3400
- Take Profit 2: 1.3300
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4160 | 1.3400 |
| 1.3985 | 1.3300 |
| 1.3800 | 1.3000 |
