Technical analysis EURCAD for 25.10.2024
The Tenkan-sen line approaches below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward 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 1.497. The closest resistance is the level 1.503
Key levels
1.489, 1.493, 1.497, 1.503, 1.509
Trading scenario
Recommended opening long positions (Buy Limit) from the level of 1.497, with Take Profit of 1.509 and Stop Loss of 1.493
Alternative scenario
Recommended opening short positions (Sell Limit) from the level of 1.503, with Take Profit of 1.489 and Stop Loss of 1.509