Technical analysis USDCAD for 06.09.2022
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.31100. The closest resistance is the level 1.31872
Key levels
- 1.32475, 1.31872, 1.31100, 1.30575, 1.29950, 1.29200
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.31100, with Take Profit of 1.31872 and Stop Loss of 1.30575
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.30575, with Take Profit of 1.29950 and Stop Loss of 1.31100
Scenario
Recommendation
BUY LIMIT
Entry Point
1.31100
Take Profit
1.31872
Stop Loss
1.30575
Key Levels
1.32475, 1.31872, 1.31100, 1.30575, 1.29950, 1.29200
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.30575
Take Profit
1.29950
Stop Loss
1.31100
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.