Technical analysis USDCAD for 09.05.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2975. The closest resistance is the level 1.3030
Key levels
- 1.3095, 1.3030, 1.2975, 1.2945, 1.2910, 1.2865, 1.2815
Trading scenario
- Recommended opening long positions (Buy) at the current price, with Take Profit of 1.3030 and Stop Loss of 1.2945
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.2910, with Take Profit of 1.2865 and Stop Loss of 1.2945
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.