Technical analysis USDCAD for 15.03.2024
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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35000. The closest resistance is the level 1.35250
Key levels
- 1.35850, 1.35550, 1.35250, 1.35000, 1.34600
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.35000, with Take Profit of 1.34600 and Stop Loss of 1.35250
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.35250, with Take Profit of 1.35550 and Stop Loss of 1.35000
Scenario
Recommendation
SELL STOP
Entry Point
1.35000
Take Profit
1.34600
Stop Loss
1.35250
Key Levels
1.35850, 1.35550, 1.35250, 1.35000, 1.34600
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.35250
Take Profit
1.35550
Stop Loss
1.35000
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.