Technical analysis USDCAD for 24.06.2022
The Tenkan-sen line crosses from top to bottom the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line crosses from top to bottom the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.29300. The closest support is the level 1.28950
Key levels
- 1.30120, 1.29700, 1.29300, 1.28950, 1.28580, 1.28210
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.29300, with Take Profit of 1.29700 and Stop Loss of 1.29150
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.28950, with Take Profit of 1.28580 and Stop Loss of 1.29150
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.