Technical analysis USDCAD for 29.06.2023
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.32325. The closest resistance is the level 1.32725
Key levels
- 1.33825, 1.33275, 1.32725, 1.32325, 1.31900
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.32325, with Take Profit of 1.31900 and Stop Loss of 1.32725
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.32725, with Take Profit of 1.33275 and Stop Loss of 1.32325
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.