Technical analysis USDCAD for 11.03.2022
The Tenkan-sen line is located below the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.26825. The closest resistance is the level 1.27425
Key levels
- 1.28900, 1.28350, 1.27800, 1.27425, 1.26825, 1.26225, 1.25575
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.26825, with Take Profit of 1.26225 and Stop Loss of 1.27100
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.27800, with Take Profit of 1.28350 and Stop Loss of 1.27425
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.