Technical analysis USDCAD for 04.10.2023
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. 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 support is the level 1.37625. The closest resistance is the level 1.37950
Key levels
- 1.38150, 1.37950, 1.37625, 1.37400, 1.37175
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.37625, with Take Profit of 1.37950 and Stop Loss of 1.37400
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.37400, with Take Profit of 1.37175 and Stop Loss of 1.37625
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.