Technical analysis USDCAD for 14.11.2024

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains 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. The closest support is the level 1.3991. The closest resistance is the level 1.4

Key levels

1.398, 1.3985, 1.991, 1.4, 1.4003

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 1.3985, with Take Profit of 1.4003 and Stop Loss of 1.398

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 1.4, with Take Profit of 1.398 and Stop Loss of 1.4003