Technical analysis EURCAD for 25.02.2022
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 1.4305. The closest resistance is the level 1.4330
Key levels
- 1.4635, 1.4515, 1.4430, 1.4370, 1.4305, 1.4205, 1.4100
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.4305, with Take Profit of 1.4205 and Stop Loss of 1.4370
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.4370, with Take Profit of 1.4430 and Stop Loss of 1.4340
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.