Technical analysis USDCAD for 02.12.2021
The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. 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 1.2730. The closest resistance is the level 1.2838
Key levels
- 1.2955, 1.2890, 1.2838, 1.2730, 1.2645, 1.2585, 1.2500, 1.2430, 1.2300
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.2730, with Take Profit of 1.2838 and Stop Loss of 1.2703
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2838, with Take Profit of 1.2955 and Stop Loss of 1.2795
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.