Source: PaxForex Premium Analytics Portal, Technical Insight
European Central Bank (ECB) board member Frank Elderson said in an interview with Market News International on Wednesday, interest rates could still go higher, if necessary.
EUR/CAD,D1
Pivot: 1.4186
Analysis:
As long as the price is below 1.4350 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4186
- Take Profit 1: 1.4100
- Take Profit 2: 1.4000
Alternative scenario:
If the level of 1.4350 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4300
- Take profit 1: 1.4450
- Take Profit 2: 1.4550
Comment:
RSI indicates downside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.4550 | 1.4100 |
| 1.4450 | 1.4000 |
| 1.4350 | 1.3900 |
