Technical analysis USDCAD for 28.12.2021
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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. The closest support is the level 1.27700. The closest resistance is the level 1.28325
Key levels
- 1.29575, 1.29175, 1.28725, 1.28325, 1.27700, 1.27300, 1.26825, 1.26450, 1.26075
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1.27700 and Stop Loss of 1.28205
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.28325, with Take Profit of 1.28725 and Stop Loss of 1.28090
Scenario
Recommendation
SELL
Entry Point
Take Profit
1.27700
Stop Loss
1.28205
Key Levels
1.29575, 1.29175, 1.28725, 1.28325, 1.27700, 1.27300, 1.26825, 1.26450, 1.26075
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.28325
Take Profit
1.28725
Stop Loss
1.28090
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.