Technical analysis EURCAD for 09.06.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is 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 1.3490. The closest resistance is the lower border of the cloud
Key levels
- 1.3770, 1.3680, 1.3625, 1.3580, 1.3530, 1.3480, 1.3390
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1.3380 and Stop Loss of 1.3530
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.3530, with Take Profit of 1.3580 and Stop Loss of 1.3480
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.