Technical analysis EURCAD for 21.01.2022

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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.41725. The closest resistance is the level 1.42325

Key levels

• 1.45275, 1.44650, 1.44200, 1.43625, 1.43225, 1.42775, 1.42325,1.41725, 1.41125

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.42325, with Take Profit of 1.41725 and Stop Loss of 1.42775

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.42775, with Take Profit of 1.43225 and Stop Loss of 1.42325