Technical analysis USDCAD for 11.10.2024
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 support is the level 1.37600. The closest resistance is the level 1.38050
Key levels
- 1.38550, 1.38050, 1.37600, 1.37350, 1.36850
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.37600, with Take Profit of 1.38050 and Stop Loss of 1.37350
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.37350, with Take Profit of 1.36850 and Stop Loss of 1.37600
Scenario
Recommendation
BUY LIMIT
Entry Point
1.37600
Take Profit
1.38050
Stop Loss
1.37350
Key Levels
1.38550, 1.38050, 1.37600, 1.37350, 1.36850
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.37350
Take Profit
1.36850
Stop Loss
1.37600
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.