Technical analysis USDCAD for 25.09.2024
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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.34250. The closest resistance is the level 1.34475
Key levels
- 1.35250, 1.34825, 1.34475, 1.34250, 1.34000
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.34250, with Take Profit of 1.34000 and Stop Loss of 1.34475
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.34475, with Take Profit of 1.34825 and Stop Loss of 1.34250
Scenario
Recommendation
SELL STOP
Entry Point
1.34250
Take Profit
1.34000
Stop Loss
1.34475
Key Levels
1.35250, 1.34825, 1.34475, 1.34250, 1.34000
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.34475
Take Profit
1.34825
Stop Loss
1.34250
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.