Technical analysis USDCAD for 09.01.2024
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.33450. The closest resistance is the level 1.34150
Key levels
- 1.34900, 1.34150, 1.33450, 1.33175, 1.32700
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.33450, with Take Profit of 1.34150 and Stop Loss of 1.33175
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.33175, with Take Profit of 1.32700 and Stop Loss of 1.33450
Scenario
Recommendation
BUY LIMIT
Entry Point
1.33450
Take Profit
1.34150
Stop Loss
1.33175
Key Levels
1.34900, 1.34150, 1.33450, 1.33175, 1.32700
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.33175
Take Profit
1.32700
Stop Loss
1.33450
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.