Technical analysis USDCAD for 17.12.2021
The Tenkan-sen line is located below the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2771. The closest resistance is the level 1.2810
Key levels
- 1.2935, 1.2858, 1.2810, 1.2771, 1.2732, 1.2685, 1.2607
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.2771, with Take Profit of 1.2732 and Stop Loss of 1.2790
Alternative scenario
- Recommended opening long positions (Buy Limit) from the level of 1.2810, with Take Profit of 1.2858 and Stop Loss of 1.2790
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.