Technical analysis USDCAD for 26.07.2023
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above 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 above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.32540. The closest support is the level 1.31710
Key levels
- 1.33730, 1.33000, 1.32540, 1.31710, 1.31150, 1.30500
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.32540, with Take Profit of 1.33000 and Stop Loss of 1.32100
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.31710, with Take Profit of 1.31150 and Stop Loss of 1.32100
Scenario
Recommendation
BUY STOP
Entry Point
1.32540
Take Profit
1.33000
Stop Loss
1.32100
Key Levels
1.33730, 1.33000, 1.32540, 1.31710, 1.31150, 1.30500
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.31710
Take Profit
1.31150
Stop Loss
1.32100
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.