Source: PaxForex Premium Analytics Portal, Technical Insight
Canada remains absent from the economic calendar on Wednesday, leaving CAD traders to look ahead to Thursday’s Canadian Current Account, which is expected to fall to -5.5 billion after climbing to a six-month high of -1.62 billion in the previous quarter.
EUR/CAD,D1
Pivot: 1.4815
Analysis:
As long as the price is above 1.4700 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4815
- Take Profit 1: 1.4900
- Take Profit 2: 1.5000
Alternative scenario:
If the level of 1.4700 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.4700
- Take profit 1: 1.4600
- Take Profit 2: 1.4500
Comment:
RSI indicates upside potential in the medium term.
Key levels:
| Resistance | Support |
| 1.5100 | 1.4700 |
| 1.5000 | 1.4600 |
| 1.4900 | 1.4500 |
