Technical analysis USDCAD for 29.03.2022
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 support is the level 1.24775. The closest resistance is the level 1.25275
Key levels
- 1.27290, 1.26675, 1.26200, 1.25700, 1.25275, 1.24775, 1.24175, 1.23600
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.25275, with Take Profit of 1.24775 and Stop Loss of 1.25700
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.25700, with Take Profit of 1.26200 and Stop Loss of 1.25275
Scenario
Recommendation
SELL LIMIT
Entry Point
1.25275
Take Profit
1.24775
Stop Loss
1.25700
Key Levels
1.27290, 1.26675, 1.26200, 1.25700, 1.25275, 1.24775, 1.24175, 1.23600
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.25700
Take Profit
1.26200
Stop Loss
1.25275
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.