Technical analysis EURCAD for 23.12.2021

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.44665. The closest resistance is the level 1.45350

Key levels

• 1.46125, 1.45750, 1.45350, 1.44665, 1.44225, 1.43730, 1.43315, 1.42865, 1.42130, 1.41720

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 1.45750 and Stop Loss of 1.44665

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.44665, with Take Profit of 1.44225 and Stop Loss of 1.45100