Technical analysis USDCAD for 05.07.2022
05.07.2022 19:17
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.30050. The closest resistance is the level 1.30800
Key levels
- 1.31750, 1.30800, 1.30050, 1.29175, 1.28175
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.30800, with Take Profit of 1.31750 and Stop Loss of 1.30050
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.30050, with Take Profit of 1.29175 and Stop Loss of 1.30800
Scenario
Recommendation
BUY STOP
Entry Point
1.30800
Take Profit
1.31750
Stop Loss
1.30050
Key Levels
1.31750, 1.30800, 1.30050, 1.29175, 1.28175
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.30050
Take Profit
1.29175
Stop Loss
1.30800