Technical analysis USDCAD for 28.11.2023
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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35800. The closest resistance is the level 1.36050
Key levels
- 1.36450, 1.36225, 1.36050, 1.35800, 1.35550
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.36050, with Take Profit of 1.35800 and Stop Loss of 1.36225
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.36225, with Take Profit of 1.36450 and Stop Loss of 1.36050
Scenario
Recommendation
SELL LIMIT
Entry Point
1.36050
Take Profit
1.35800
Stop Loss
1.36225
Key Levels
1.36450, 1.36225, 1.36050, 1.35800, 1.35550
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.36225
Take Profit
1.36450
Stop Loss
1.36050
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.