Technical analysis USDCAD for 18.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 1.28810. The closest support is the level 1.28150

Key levels

• 1.300000, 1.29300, 1.28810, 1.28150, 1.27670, 1.27270

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.28810, with Take Profit of 1.29300 and Stop Loss of 1.28450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.28150, with Take Profit of 1.27670 and Stop Loss of 1.28450