Technical analysis AUDCAD for 19.10.2022
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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.87400. The closest support is the level 0.86400
Key levels
- 0.88680, 0.88170, 0.87400, 0.86400, 0.86100, 0.85720
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.87400, with Take Profit of 0.88170 and Stop Loss of 0.86900
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.86400, with Take Profit of 0.86100 and Stop Loss of 0.86900
Scenario
Recommendation
BUY STOP
Entry Point
0.87400
Take Profit
0.88170
Stop Loss
0.86900
Key Levels
0.88680, 0.88170, 0.87400, 0.86400, 0.86100, 0.85720
Alternative scenario
Recommendation
SELL STOP
Entry Point
0.86400
Take Profit
0.86100
Stop Loss
0.86900
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.