Source: PaxForex Premium Analytics Portal, Technical Insight
Canada may approve the Pfizer vaccine already this week. It was announced by Canadian Prime Minister J. Trudeau, adding that by the end of this year the country can receive 249 thousand doses of coronavirus vaccine. A person needs two doses of coronavirus vaccine to be vaccinated.
USD/CAD, 30 min
Pivot: 1.2806
Analysis:
Provided that the currency pair is traded below 1.2815, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.2806
- Take Profit 1: 1.2770
- Take Profit 2: 1.2750
Alternative scenario:
In case of breakout of the level 1.2815, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.2815
- Take Profit 1: 1.2835
- Take Profit 2: 1.2855
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 1.2855 | 1.2770 |
| 1.2835 | 1.2750 |
| 1.2815 | 1.2730 |
USD/CAD, D1
Pivot: 1.2787
Analysis:
While the price is below 1.3140, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2787
- Take Profit 1: 1.2550
- Take Profit 2: 1.2250
Alternative scenario:
If the level 1.3140 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3140
- Take Profit 1: 1.3230
- Take Profit 2: 1.3390
Comment:
RSI shows the possibility of the downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.3390 | 1.2550 |
| 1.3250 | 1.2250 |
| 1.3140 | 1.2000 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - sell below 1.2150 with 1.2080 and 1.2060 targets as Take Profit. Alternative scenario - if the level 1.2150 is broken-out, buy with the TP 1.1885 and 1.1870.
GBP/USD - short positions below 1.3415 with 1.3290 and 1.3225 targets as Take Profit. Alternative scenario - if the level of 1.3415 is broken-out, buy with the targets 1.3470 and 1.3535 as Take Profit.
AUD/USD – buy above 0.7400 with 0.7450 and 0.7465 as Take Profit targets. Alternative scenario - if the level of 0.7400 is broken-down, you should consider selling with the targets 0.7385 and 0.7370 as Take Profit.
