Technical analysis USDCAD for 12.01.2024
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span crossed and fixed below 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 1.33400. The closest resistance is the level 1.33775
Key levels
- 1.34850, 1.34275, 1.33775, 1.33400, 1.33000
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.33400, with Take Profit of 1.33000 and Stop Loss of 1.33775
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.33775, with Take Profit of 1.34275 and Stop Loss of 1.33400
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.