Technical analysis USDCAD for 14.05.2024
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.36350. The closest resistance is the level 1.36600
Key levels
- 1.36750, 1.36600, 1.36350, 1.36150, 1.35900
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.36350, with Take Profit of 1.36600 and Stop Loss of 1.36150
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.36150, with Take Profit of 1.35900 and Stop Loss of 1.36350
Scenario
Recommendation
BUY LIMIT
Entry Point
1.36350
Take Profit
1.36600
Stop Loss
1.36150
Key Levels
1.36750, 1.36600, 1.36350, 1.36150, 1.35900
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.36150
Take Profit
1.35900
Stop Loss
1.36350
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.