Technical analysis NZDCAD for 16.06.2022
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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.80700. The closest resistance is the level 0.81000
Key levels
- 0.81725, 0.81300, 0.81000, 0.80700, 0.80375, 0.80025
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 0.80700, with Take Profit of 0.80375 and Stop Loss of 0.81000
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.81000, with Take Profit of 0.81300 and Stop Loss of 0.80700
Scenario
Recommendation
SELL STOP
Entry Point
0.80700
Take Profit
0.80375
Stop Loss
0.81000
Key Levels
0.81725, 0.81300, 0.81000, 0.80700, 0.80375, 0.80025
Alternative scenario
Recommendation
BUY STOP
Entry Point
0.81000
Take Profit
0.81300
Stop Loss
0.80700
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.