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:

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:

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.