Technical analysis USDCAD for 08.10.2024
Intraday
Technical
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are 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
Key levels
- 1.34954, 1.35671, 1.36065, 1.36492, 1.36806
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.36065, with Take Profit of 1.36806 and Stop Loss of 1.35671
Alternative scenario
- Recommended opening short positions (Sell Limit) from the level of 1.36492, with Take Profit of 1.35671 and Stop Loss of 1.36492
Scenario
Recommendation
BUY LIMIT
Entry Point
1.36065
Take Profit
1.36806
Stop Loss
1.35671
Key Levels
1.34954, 1.35671, 1.36065, 1.36492, 1.36806
Alternative scenario
Recommendation
SELL LIMIT
Entry Point
1.36492
Take Profit
1.35671
Stop Loss
1.36492
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.