Source: PaxForex Premium Analytics Portal, Technical Insight
The BoC Governor Tiff Macklem said on that the central bank has made in bringing inflation back down to the 2% target, so it is reasonable to expect more rate cuts.
EUR/CAD,D1
Pivot: 1.5009
Analysis:
As long as the price is above 1.4900 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5009
- Take Profit 1: 1.5200
- Take Profit 2: 1.5300
Alternative scenario:
If the level of 1.4900 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4900
- Take profit 1: 1.4800
- Take Profit 2: 1.4700
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5400 | 1.4900 |
| 1.5300 | 1.4800 |
| 1.5200 | 1.4700 |
