Technical analysis USDCAD for 30.05.2024
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.36850. The closest resistance is the level 1.37200
Key levels
- 1.37550, 1.37200, 1.36850, 1.36550, 1.36000
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.36850, with Take Profit of 1.37200 and Stop Loss of 1.36550
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.36550, with Take Profit of 1.36000 and Stop Loss of 1.36850
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.