Source: PaxForex Premium Analytics Portal, Technical Insight
Euro zone inflation expectations have reached a new seven-year high above the ECB's 2% target.
EUR/CAD,D1
Pivot: 1.4341
Analysis:
As long as price is below 1.4554 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4341
- Take Profit 1: 1.4300
- Take Profit 2: 1.4095
Alternative scenario:
If the level of 1.4554 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4554
- Take profit 1: 1.4765
- Take Profit 2: 1.4891
Comment:
RSI indicates the potential for decline in the medium term.
Key levels:
| Resistance | Support |
| 1.4891 | 1.4300 |
| 1.4765 | 1.4095 |
| 1.4554 | 1.3970 |
