Source: PaxForex Premium Analytics Portal, Technical Insight

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• Recovery will be slow.

USD/CAD, 30 min

Pivot: 1.3555

Analysis:

Provided that the currency pair is traded above 1.3550, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.3555
• Take Profit 1: 1.3570
• Take Profit 2: 1.3590

Alternative scenario: 

In case of breakdown of the level 1.3550, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.3550
• Take Profit 1: 1.3495
• Take Profit 2: 1.3480

Comment:

RSI shows the possibility of an ascending momentum during the day.

Key levels:

USD/CAD, D1

Pivot: 1.3515

Analysis:

While the price is below 1.3770, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3624
• Take Profit 1: 1.3490
• Take Profit 2: 1.3300

Alternative scenario:

If the level 1.3770 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3770
• Take Profit 1: 1.4015
• Take Profit 2: 1.4250

Comment:

RSI indicates that the downtrend continues in the medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intra-day trading:

AUD/USD – buy above 0.6900 with 0.6935 and 0.6960 as Take Profit targets. Alternative scenario - if the level of 0.6900 is broken-down, you should consider selling with the targets 0.6855 and 0.6835 as Take Profit.
GBP/USD - long positions above 1.2455 with 1.2505 and 1.2530 targets as Take Profit. Alternative scenario - if the level of 1.2445 is broken-down, sell with the targets 1.2435 and 1.2410 as Take Profit.
EUR/USD - buy above 1.1250 with 1.1280 and 1.1300 targets as Take Profit. Alternative scenario - if the level 1.1250 is broken-down, sell with the TP 1.1230 and 1.1205.