Technical analysis USDCAD for 22.01.2024
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 1.34125. The closest resistance is the level 1.34800
Key levels
- 1.35200, 1.34800, 1.34125, 1.33800, 1.33400
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.34125, with Take Profit of 1.34800 and Stop Loss of 1.33800
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.33800, with Take Profit of 1.33400 and Stop Loss of 1.34125
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.