Technical analysis USDCAD for 31.01.2022
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.2705. The closest resistance is the level 1.2765
Key levels
- 1.2940, 1.2845, 1.2765, 1.2705, 1.2650, 1.2575, 1.2520, 1.2455
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.2705, with Take Profit of 1.2575 and Stop Loss of 1.2765
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2765, with Take Profit of 1.2845 and Stop Loss of 1.2705
Scenario
Recommendation
SELL STOP
Entry Point
1.2705
Take Profit
1.2575
Stop Loss
1.2765
Key Levels
1.2940, 1.2845, 1.2765, 1.2705, 1.2650, 1.2575, 1.2520, 1.2455
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.2765
Take Profit
1.2845
Stop Loss
1.2705
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.