Technical analysis EURCAD for 10.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above 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 1.40950. The closest resistance is the level 1.41850

Key levels

• 1.44300, 1.43450, 1.42750, 1.41850, 1.40950, 1.40330, 1.39300, 1.37950

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.41850, with Take Profit of 1.40950 and Stop Loss of 1.42750

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.42750, with Take Profit of 1.43450 and Stop Loss of 1.42145