Technical analysis EURCAD for 17.06.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.3635. The closest resistance is the level 1.3587

Key levels

• 1.3786, 1.3695, 1.3635, 1.3587, 1.3540, 1.3482, 1.3390

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.3635, with Take Profit of 1.3695 and Stop Loss of 1.3587

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.3587, with Take Profit of 1.3482 and Stop Loss of 1.3635