Technical analysis USDCAD for 06.04.2022
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is trading above 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
- 1.27300, 1.26450, 1.25850, 1.25000, 1.24300, 1.23675, 1.22950
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.25000, with Take Profit of 1.24300 and Stop Loss of 1.25380
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.26450, with Take Profit of 1.27300 and Stop Loss of 1.25850
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.