Technical analysis USDCAD for 28.03.2024
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 1.35400. The closest resistance is the level 1.35550
Key levels
- 1.35800, 1.35650, 1.35550, 1.35400, 1.35250
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.35550, with Take Profit of 1.35400 and Stop Loss of 1.35650
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.35650, with Take Profit of 1.35800 and Stop Loss of 1.35550
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.