Source: PaxForex Premium Analytics Portal, Technical Insight

ECB’s Cipollone: ECB has room to lower rate swiftly despite wage rebound.

EUR/CAD,D1

Pivot: 1.4691

Analysis:

As long as the price is above 1.4500 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4691
• Take Profit 1: 1.4800
• Take Profit 2: 1.4900

Alternative scenario:

If the level of 1.4500 is broken-down, follow the recommendations below:  

• Time frame: D1
• Recommendation: short position
• Entry point: 1.4500
• Take profit 1: 1.4400
• Take Profit 2: 1.4300

Comment:

RSI indicates upside potential in the medium term.

Key levels: