Technical analysis USDCAD for 18.02.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.26450. The closest resistance is the level 1.27075

Key levels

• 1.28900, 1.28375, 1.27800, 1.27075, 1.26450, 1.25750, 1.25000

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.27075, with Take Profit of 1.26450 and Stop Loss of 1.27360

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.27360, with Take Profit of 1.27800 and Stop Loss of 1.27075