Technical analysis EURCAD for 30.03.2022

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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the lower border of the cloud. The closest support is the level 1.38555

Key levels

• 1.40920, 1.40000, 1.39250, 1.38555, 1.37870, 1.37055

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 1.39250 and Stop Loss of 1.38555

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.38555, with Take Profit of 1.37870 and Stop Loss of 1.39100