Technical analysis EURCAD for 29.12.2021

The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.45356. The closest support is the level 1.44666

Key levels

• 1.46130, 1.45356, 1.44666, 1.44034, 1.43464, 1.42749, 1.42258, 1.41721

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.45356, with Take Profit of 1.46130 and Stop Loss of 1.44666

Alternative scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1.44666 and Stop Loss of 1.45356