Technical analysis EURCAD for 31.08.2022

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 1.31025. The closest resistance is the level 1.31475

Key levels

• 1.31925, 1.31475, 1.31025, 1.30700, 1.30325

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.31025, with Take Profit of 1.31475 and Stop Loss of 1.30700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.30700, with Take Profit of 1.30325 and Stop Loss of 1.31025