Technical analysis USDCAD for 12.05.2022
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.3000. The closest resistance is the level 1.3050
Key levels
- 1.3126, 1.3222, 1.3050, 1.3000, 1.2930, 1.2881, 1.2815
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.3050, with Take Profit of 1.3112 and Stop Loss of 1.3000
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.3000, with Take Profit of 1.2930 and Stop Loss of 1.3050