Technical analysis EURCAD for 25.10.2024

The Tenkan-sen line approaches below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward 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 1.497. The closest resistance is the level 1.503

Key levels

1.489, 1.493, 1.497, 1.503, 1.509

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 1.497, with Take Profit of 1.509 and Stop Loss of 1.493

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 1.503, with Take Profit of 1.489 and Stop Loss of 1.509