Technical analysis USDCAD for 20.02.2024
20.02.2024 15:07
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.34550. The closest resistance is the level 1.35100
Key levels
- 1.35500, 1.35100, 1.34550, 1.34250, 1.33900
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.34550, with Take Profit of 1.35100 and Stop Loss of 1.34250
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.34250, with Take Profit of 1.33900 and Stop Loss of 1.34550
Scenario
Recommendation
BUY LIMIT
Entry Point
1.34550
Take Profit
1.35100
Stop Loss
1.34250
Key Levels
1.35500, 1.35100, 1.34550, 1.34250, 1.33900
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.34250
Take Profit
1.33900
Stop Loss
1.34550