Technical analysis USDCAD for 30.10.2023
Intraday
Technical
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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.38200. The closest resistance is the level 1.38800
Key levels
- 1.39200, 1.38800, 1.38200, 1.37825, 1.37400
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.38200, with Take Profit of 1.38800 and Stop Loss of 1.37825
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.37825, with Take Profit of 1.37400 and Stop Loss of 1.38200
Scenario
Recommendation
BUY LIMIT
Entry Point
1.38200
Take Profit
1.38800
Stop Loss
1.37825
Key Levels
1.39200, 1.38800, 1.38200, 1.37825, 1.37400
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.37825
Take Profit
1.37400
Stop Loss
1.38200
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.