Technical analysis USDCAD for 18.01.2022
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
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. The closest support is the level 1.25000. The closest resistance is the level 1.25850
Key levels
- 1.29550, 1.28900, 1.28380, 1.27300, 1.26450, 1.25850, 1.25000, 1.24300
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.25000, with Take Profit of 1.24300 and Stop Loss of 1.25600
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.25850, with Take Profit of 1.26450 and Stop Loss of 1.25350
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.