Technical analysis EURCAD for 28.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 1.3385. The closest resistance is the level 1.3515

Key levels

• 1.3760, 1.3600, 1.3385, 1.3265,1.3120

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1.3385 and Stop Loss of 1.3600

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.3600, with Take Profit of 1.3760 and Stop Loss of 1.3515