Technical analysis USDCAD for 09.09.2024
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is 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 1.35600. The closest resistance is the level 1.35800
Key levels
- 1.36100, 1.35800, 1.35600, 1.35475, 1.35250
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.35600, with Take Profit of 1.35800 and Stop Loss of 1.35475
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.35475, with Take Profit of 1.35250 and Stop Loss of 1.35600
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.