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. 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