Technical analysis AUDCAD for 26.07.2023
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 0.90210. The closest support is the level 0.88780
Key levels
- 0.91000, 0.90210, 0.88780, 0.87990, 0.87230
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.90210, with Take Profit of 0.91000 and Stop Loss of 0.89520
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.88780, with Take Profit of 0.87990 and Stop Loss of 0.89520
Scenario
Recommendation
BUY STOP
Entry Point
0.90210
Take Profit
0.91000
Stop Loss
0.89520
Key Levels
0.91000, 0.90210, 0.88780, 0.87990, 0.87230
Alternative scenario
Recommendation
SELL STOP
Entry Point
0.88780
Take Profit
0.87990
Stop Loss
0.89520
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.