Technical analysis USDCAD for 18.05.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed 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 1.34875. The closest resistance is the level 1.35250
Key levels
- 1.36050, 1.35675, 1.35250, 1.34875, 1.34450
Trading scenario
- Recommended opening long positions (Buy) at the current price, with Take Profit of 1.35250 and Stop Loss of 1.34875
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.34875, with Take Profit of 1.34450 and Stop Loss of 1.35250
Scenario
Recommendation
BUY
Entry Point
Take Profit
1.35250
Stop Loss
1.34875
Key Levels
1.36050, 1.35675, 1.35250, 1.34875, 1.34450
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.34875
Take Profit
1.34450
Stop Loss
1.35250
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.