Technical analysis EURCAD for 31.08.2022
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.31025. The closest resistance is the level 1.31475
Key levels
- 1.31925, 1.31475, 1.31025, 1.30700, 1.30325
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.31025, with Take Profit of 1.31475 and Stop Loss of 1.30700
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.30700, with Take Profit of 1.30325 and Stop Loss of 1.31025
Scenario
Recommendation
BUY LIMIT
Entry Point
1.31025
Take Profit
1.31475
Stop Loss
1.30700
Key Levels
1.31925, 1.31475, 1.31025, 1.30700, 1.30325
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.30700
Take Profit
1.30325
Stop Loss
1.31025
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.