Technical analysis USDCAD for 24.10.2022
24.10.2022 18:01
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. 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. The closest support is the level 1.3725. The closest resistance is the level 1.3800
Key levels
- 1.3965, 1.3870, 1.3800, 1.3725, 1.3630, 1.3500
Trading scenario
- Recommended opening long positions (Buy) at the current price, with Take Profit of 1.3870 and Stop Loss of 1.3630
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.3630, with Take Profit of 1.3500 and Stop Loss of 1.3725
Scenario
Recommendation
BUY
Entry Point
Take Profit
1.3870
Stop Loss
1.3630
Key Levels
1.3965, 1.3870, 1.3800, 1.3725, 1.3630, 1.3500
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.3630
Take Profit
1.3500
Stop Loss
1.3725