Technical analysis USDCAD for 19.01.2022
19.01.2022 17:00
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. Strong resistance is the merged Tenkan-se and Kijun-sen lines. The closest support is the level 1.24500
Key levels
- 1.29375, 1.28500, 1.27850, 1.27250, 1.26500, 1.25850, 1.25225, 1.24500, 1.23650
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.25225, with Take Profit of 1.25850 and Stop Loss of 1.24600
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.24500, with Take Profit of 1.23650 and Stop Loss of 1.25225
Scenario
Recommendation
BUY STOP
Entry Point
1.25225
Take Profit
1.25850
Stop Loss
1.24600
Key Levels
1.29375, 1.28500, 1.27850, 1.27250, 1.26500, 1.25850, 1.25225, 1.24500, 1.23650
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.24500
Take Profit
1.23650
Stop Loss
1.25225