Technical analysis USDCAD for 11.05.2022
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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.29100. The closest resistance is the level 1.29450
Key levels
- 1.30300, 1.29750, 1.29450, 1.29100, 1.28650, 1.28150
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.29450, with Take Profit of 1.29100 and Stop Loss of 1.29750
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.29750, with Take Profit of 1.30300 and Stop Loss of 1.29450
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.