Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/CAD’s renaissance is gathering some momentum. In the opinion of economists at Scotiabank, the pair could return to the 1.40-1.45 range.
EUR/CAD,D1
Pivot: 1.3647
Analysis:
As long as the price is above 1.3550 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3647
- Take Profit 1: 1.3715
- Take Profit 2: 1.3900
Alternative scenario:
If the level of 1.3550 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3550
- Take profit 1: 1.3355
- Take Profit 2: 1.3240
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.3950 | 1.3550 |
| 1.3900 | 1.3355 |
| 1.3715 | 1.3240 |
