Technical analysis EURCAD for 04.01.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 1.4315. The closest resistance is the level 1.4380
Key levels
- 1.4645, 1.4545, 1.4480, 1.4425, 1.4380, 1.4315, 1.4265, 1.4210
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.4380, with Take Profit of 1.4315 and Stop Loss of 1.4425
Alternative scenario
- Recommended opening long positions (Buy Limit) from the level of 1.4265, with Take Profit of 1.4380 and Stop Loss of 1.4210
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.