Technical analysis USDCAD for 28.10.2022
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.37190. The closest support is the level 1.35700
Key levels
- 1.39220, 1.38220, 1.37190, 1.35700, 1.34840, 1.34010
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.37190, with Take Profit of 1.38220 and Stop Loss of 1.36300
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.35700, with Take Profit of 1.34840 and Stop Loss of 1.36300
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.