Technical analysis USDCAD for 25.08.2022
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 ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2900. The closest resistance is the level 1.2935
Key levels
- 1.3060, 1.2985, 1.2935, 1.2900, 1.2860, 1.2815, 1.2740
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.2900, with Take Profit of 1.2860 and Stop Loss of 1.2935
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2935, with Take Profit of 1.2985 and Stop Loss of 1.2900
Scenario
Recommendation
SELL STOP
Entry Point
1.2900
Take Profit
1.2860
Stop Loss
1.2935
Key Levels
1.3060, 1.2985, 1.2935, 1.2900, 1.2860, 1.2815, 1.2740
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.2935
Take Profit
1.2985
Stop Loss
1.2900
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.