Technical analysis EURCAD for 24.05.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
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 turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.3115. The closest resistance is the level 1.3615
Key levels
- 1.3758, 1.3670, 1.3615, 1.3578, 1.3530, 1.3475, 1.3390
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.3670, with Take Profit of 1.3758 and Stop Loss of 1.3615
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.3615, with Take Profit of 1.3530 and Stop Loss of 1.3670
The trade levels, signals and forecasts in this article are calculated automatically from technical indicators and price history. They are not investment advice or a recommendation to buy or sell any financial instrument. Past performance and forecasts do not guarantee future results. Risk Warning: CFDs are complex financial products traded on margin. Trading CFDs is risky and may not be suitable for all investors. Ensure you understand the risks involved as you may lose all your invested capital.
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.
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