Technical analysis USDCAD for 12.10.2023
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 descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.36025. The closest resistance is the level 1.36294
Key levels
- 1.36600, 1.36294, 1.36025, 1.35725, 1.35500
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.36294, with Take Profit of 1.36600 and Stop Loss of 1.36025
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.36025, with Take Profit of 1.35725 and Stop Loss of 1.36294
Scenario
Recommendation
BUY STOP
Entry Point
1.36294
Take Profit
1.36600
Stop Loss
1.36025
Key Levels
1.36600, 1.36294, 1.36025, 1.35725, 1.35500
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.36025
Take Profit
1.35725
Stop Loss
1.36294
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.