Technical analysis USDCAD for 07.08.2023
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.33575. The closest resistance is the level 1.33975
Key levels
- 1.34200, 1.33975, 1.33575, 1.33375, 1.33125
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.33575, with Take Profit of 1.33975 and Stop Loss of 1.33375
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.33375, with Take Profit of 1.33125 and Stop Loss of 1.33575
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.