Technical analysis NZDCAD for 03.12.2024
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 turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively. The closest resistance is the lower border of the cloud
Key levels
0.82766, 0.82680, 0.82605, 0.82564, 0.82443
Trading scenario
Recommended opening short positions (Sell Limit) from the level of 0.82605, with Take Profit of 0.82443 and Stop Loss of 0.82680
Alternative scenario
Recommended opening long positions (Buy) at the current price, with Take Profit of 0.82680 and Stop Loss of 0.82443
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.