Technical analysis CADCHF for 09.03.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.72250. The closest resistance is the level 0.72475
Key levels
- 0.73250, 0.72925, 0.72700, 0.72475, 0.72250, 0.72000, 0.71775
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 0.72475, with Take Profit of 0.72250 and Stop Loss of 0.72700
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.72700, with Take Profit of 0.72925 and Stop Loss of 0.72585
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.