Technical analysis USDCAD for 14.12.2021
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2720. The closest resistance is the level 1.2855
Key levels
- 1.3090, 1.2975, 1.2855, 1.2720, 1.2638, 1.2570, 1.2500, 1.2415, 1.2285
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1.2720 and Stop Loss of 1.2855
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2855, with Take Profit of 1.2975 and Stop Loss of 1.2800
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.