Technical analysis USDCAD for 27.11.2024
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is 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 1.403. The closest resistance is the level 1.408
Key levels
1.4, 1.403, 1.408, 1.411, 1.417
Trading scenario
Recommended opening long positions (Buy Limit) from the level of 1.403, with Take Profit of 1.417 and Stop Loss of 1.4
Alternative scenario
Recommended opening short positions (Sell Limit) from the level of 1.411, with Take Profit of 1.4 and Stop Loss of 1.417
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.