Source: PaxForex Premium Analytics Portal, Technical Insight
Kaplan: monetary policy needs to be adapted given the financial situation:
- Expects the RCE to be overvalued, at least in 2021;
- Uncertainty will remain;
- Need to start discussing winding down on the back of progress in the economy and recovery from the pandemic.
USD/CAD, 30 min
Pivot: 1.2074
Analysis:
Provided that the currency pair is traded above 1.2050, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.2074
- Take Profit 1: 1.2095
- Take Profit 2: 1.2115
Alternative scenario:
In case of breakdown of the level 1.2050, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.2050
- Take Profit 1: 1.2035
- Take Profit 2: 1.2015
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 1.2140 | 1.2050 |
| 1.2115 | 1.2035 |
| 1.2095 | 1.2015 |
USD/CAD, D1
Pivot: 1.2085
Analysis:
While the price is below 1.2360, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2085
- Take Profit 1: 1.1840
- Take Profit 2: 1.1675
Alternative scenario:
If the level 1.2360 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2360
- Take Profit 1: 1.2500
- Take Profit 2: 1.2650
Comment:
RSI shows the possibility of the downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2650 | 1.1840 |
| 1.2500 | 1.1675 |
| 1.2360 | 1.1450 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.2210 with 1.2260 and 1.2275 targets as Take Profit. Alternative scenario - if the level 1.2210 is broken-down, sell with the TP 1.2195 and 1.2180.
GBP/USD - long positions above 1.4160 with 1.4215 and 1.4240 targets as Take Profit. Alternative scenario - if the level of 1.4150 is broken-down, sell with the targets 1.4140 and 1.4120 as Take Profit.
AUD/USD – sell below 0.7775 with 0.7730 and 0.7715 as Take Profit targets. Alternative scenario - if the level of 0.7775 is broken-out, you should consider buying with the targets 0.7790 and 0.7805 as Take Profit.
