Technical analysis EURCAD for 04.03.2022
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. 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 1.3965. The closest resistance is the level 1.4025
Key levels
- 1.4305, 1.4225, 1.4145, 1.4095, 1.4025, 1.3965, 1.3885, 1.3775
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.4025, with Take Profit of 1.4095 and Stop Loss of 1.3965
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.3965, with Take Profit of 1.3885 and Stop Loss of 1.4025
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.