Technical analysis USDCAD for 07.07.2022
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above 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 is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.30060. The closest support is the level 1.29080
Key levels
- 1.31100, 1.30450, 1.30060, 1.29080, 1.28430, 1.27850
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.30060, with Take Profit of 1.30450 and Stop Loss of 1.29520
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.29080, with Take Profit of 1.28430 and Stop Loss of 1.29520
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.