Technical analysis EURCAD for 06.05.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.3475. The closest resistance is the level 1.3530
Key levels
- 1.3760, 1.3675, 1.3615, 1.3575, 1.3530, 1.3475, 1.3385
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.3475, with Take Profit of 1.3385 and Stop Loss of 1.3530
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.3530, with Take Profit of 1.3615 and Stop Loss of 1.3475
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.