Technical analysis USDCAD for 11.02.2022
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
Tenkan-sen and Kijun-sen lines are merged. 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 1.26450. The closest resistance is the level 1.27075
Key levels
- 1.28900, 1.28375, 1.27675, 1.27075, 1.26450, 1.25800, 1.25175, 1.24625
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1.26450 and Stop Loss of 1.27075
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.27075, with Take Profit of 1.27675 and Stop Loss of 1.26910
Scenario
Recommendation
SELL
Entry Point
Take Profit
1.26450
Stop Loss
1.27075
Key Levels
1.28900, 1.28375, 1.27675, 1.27075, 1.26450, 1.25800, 1.25175, 1.24625
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.27075
Take Profit
1.27675
Stop Loss
1.26910
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.