Technical analysis USDCAD for 29.09.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.34200. The closest resistance is the level 1.34675
Key levels
- 1.34825, 1.34575, 1.34200, 1.33925, 1.33575
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.34200, with Take Profit of 1.34575 and Stop Loss of 1.33925
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.33925, with Take Profit of 1.33575 and Stop Loss of 1.34200
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.