Technical analysis USDCAD for 17.10.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.36300. The closest resistance is the level 1.36675
Key levels
- 1.36950, 1.36675, 1.36300, 1.36100, 1.35800
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.36300, with Take Profit of 1.36675 and Stop Loss of 1.36100
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.36100, with Take Profit of 1.35800 and Stop Loss of 1.36300
Scenario
Recommendation
BUY LIMIT
Entry Point
1.36300
Take Profit
1.36675
Stop Loss
1.36100
Key Levels
1.36950, 1.36675, 1.36300, 1.36100, 1.35800
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.36100
Take Profit
1.35800
Stop Loss
1.36300
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.