Technical analysis USDCAD for 09.06.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.26450. The closest resistance is the level 1.25700
Key levels
- 1.27660, 1.27050, 1.26450, 1.25700, 1.25100, 1.24500
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.26450, with Take Profit of 1.27050 and Stop Loss of 1.26275
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.25700, with Take Profit of 1.25100 and Stop Loss of 1.26150
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.