Technical analysis USDCAD for 25.10.2023
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 1.37775. The closest resistance is the level 1.38300
Key levels
- 1.38600, 1.38300, 1.37775, 1.37475, 1.37000
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.37775, with Take Profit of 1.38300 and Stop Loss of 1.37475
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.37475, with Take Profit of 1.37000 and Stop Loss of 1.37775
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.