Technical analysis USDCAD for 08.09.2022
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above 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 resistance is the level 1.31915. The closest support is the level 1.30995
Key levels
- 1.33035, 1.32475, 1.31915, 1.30995, 1.30440, 1.29745
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.31915, with Take Profit of 1.32475 and Stop Loss of 1.31450
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.30995, with Take Profit of 1.30440 and Stop Loss of 1.31450
Scenario
Recommendation
BUY STOP
Entry Point
1.31915
Take Profit
1.32475
Stop Loss
1.31450
Key Levels
1.33035, 1.32475, 1.31915, 1.30995, 1.30440, 1.29745
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.30995
Take Profit
1.30440
Stop Loss
1.31450
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.