Technical analysis CADCHF for 21.02.2022
Intraday
Technical
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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.7195. The closest resistance is the level 0.7230
Key levels
- 0.7365, 0.7005, 0.7265, 0.7230, 0.7195, 0.7145, 0.7100
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 0.7195, with Take Profit of 0.7145 and Stop Loss of 0.7230
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.7230, with Take Profit of 0.7305 and Stop Loss of 0.7195
Scenario
Recommendation
SELL STOP
Entry Point
0.7195
Take Profit
0.7145
Stop Loss
0.7230
Key Levels
0.7365, 0.7005, 0.7265, 0.7230, 0.7195, 0.7145, 0.7100
Alternative scenario
Recommendation
BUY STOP
Entry Point
0.7230
Take Profit
0.7305
Stop Loss
0.7195
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.