Technical analysis USDCAD for 08.02.2022
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively
Key levels
1.29125, 1.28500, 1.27575, 1.26925, 1.26350, 1.25750, 1.25000, 1.24275
Trading scenario
Recommended opening short positions (Sell Stop) from the level of 1.26925, with Take Profit of 1.26350 and Stop Loss of 1.27300
Alternative scenario
Recommended opening long positions (Buy Stop) from the level of 1.27575, with Take Profit of 1.28500 and Stop Loss of 1.26925