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: