Technical analysis USDCAD for 29.04.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 1.2785. The closest resistance is the level 1.2810
Key levels
- 1.2900, 1.2810, 1.2785, 1.2720, 1.2660, 1.2605, 1.2535
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2810, with Take Profit of 1.2900 and Stop Loss of 1.2720
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.2785, with Take Profit of 1.2720 and Stop Loss of 1.2810
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.