Technical analysis USDCAD for 15.05.2023
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.34975. The closest resistance is the level 1.35300
Key levels
- 1.35625, 1.35300, 1.34975, 1.34597, 1.34225
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.34975, with Take Profit of 1.34597 and Stop Loss of 1.35300
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.35300, with Take Profit of 1.35625 and Stop Loss of 1.34975
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.