Technical analysis USDCAD for 01.12.2023
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 1.35150. The closest resistance is the level 1.35425
Key levels
- 1.35775, 1.35575, 1.35425, 1.35150, 1.34950
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.35425, with Take Profit of 1.35150 and Stop Loss of 1.35575
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.35575, with Take Profit of 1.35775 and Stop Loss of 1.35425
Scenario
Recommendation
SELL LIMIT
Entry Point
1.35425
Take Profit
1.35150
Stop Loss
1.35575
Key Levels
1.35775, 1.35575, 1.35425, 1.35150, 1.34950
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.35575
Take Profit
1.35775
Stop Loss
1.35425
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.