Technical analysis EURCAD for 10.05.2022

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 1.36550. The closest resistance is the level 1.37600

Key levels

• 1.38500, 1.37600, 1.36550, 1.35800, 1.34750, 1.33850

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.37600, with Take Profit of 1.38500 and Stop Loss of 1.37000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.36550, with Take Profit of 1.35800 and Stop Loss of 1.36900