Technical analysis USDCAD for 25.09.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines

Key levels

• 1.31724, 1.32887, 1.34180, 1.36220, 1.39339

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.32887, with Take Profit of 1.36220 and Stop Loss of 1.31724

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 1.36220, with Take Profit of 1.31724 and Stop Loss of 1.31724