Technical analysis USDCAD for 12.02.2024
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 ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.34450. The closest resistance is the level 1.34900
Key levels
- 1.35332, 1.34900, 1.34450, 1.34250, 1.33975
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.34450, with Take Profit of 1.34900 and Stop Loss of 1.34250
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.34250, with Take Profit of 1.33975 and Stop Loss of 1.34450
Scenario
Recommendation
BUY LIMIT
Entry Point
1.34450
Take Profit
1.34900
Stop Loss
1.34250
Key Levels
1.35332, 1.34900, 1.34450, 1.34250, 1.33975
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.34250
Take Profit
1.33975
Stop Loss
1.34450
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.