Technical analysis USDCAD for 17.01.2024
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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35175. The closest resistance is the level 1.35700
Key levels
- 1.36075, 1.35700, 1.35175, 1.34875, 1.34400
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.35175, with Take Profit of 1.35700 and Stop Loss of 1.34875
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.34875, with Take Profit of 1.34400 and Stop Loss of 1.35175
Scenario
Recommendation
BUY LIMIT
Entry Point
1.35175
Take Profit
1.35700
Stop Loss
1.34875
Key Levels
1.36075, 1.35700, 1.35175, 1.34875, 1.34400
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.34875
Take Profit
1.34400
Stop Loss
1.35175
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.