Technical analysis USDCAD for 04.05.2022
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument entered the cloud. The closest support is the top of the cloud. The closest resistance is the level 1.2785
Key levels
- 1.2900, 1.2810, 1.2785, 1.2720, 1.2660, 1.2605, 1.2535, 1.2425
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.2785, with Take Profit of 1.2720 and Stop Loss of 1.2810
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2810, with Take Profit of 1.2900 and Stop Loss of 1.2785
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.