Technical analysis USDCAD for 21.03.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.26095. The closest support is the level 1.25505
Key levels
- 1.28095, 1.27745, 1.27425, 1.27040, 1.26710, 1.26390, 1.26095, 1.25505, 1.25070
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1.25505 and Stop Loss of 1.26095
Alternative scenario
- Recommended opening long positions (Buy Limit) from the level of 1.25505, with Take Profit of 1.26095 and Stop Loss of 1.25070
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.