Technical analysis USDCAD for 08.10.2024

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 is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines

Key levels

• 1.34954, 1.35671, 1.36065, 1.36492, 1.36806

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.36065, with Take Profit of 1.36806 and Stop Loss of 1.35671

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 1.36492, with Take Profit of 1.35671 and Stop Loss of 1.36492