Technical analysis USDCAD for 17.07.2023
17.07.2023 17:19
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.31625. The closest resistance is the level 1.31975
Key levels
- 1.32975, 1.32375, 1.31975, 1.31625, 1.31250
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.31625, with Take Profit of 1.31250 and Stop Loss of 1.31975
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.31975, with Take Profit of 1.32375 and Stop Loss of 1.31625
Scenario
Recommendation
SELL STOP
Entry Point
1.31625
Take Profit
1.31250
Stop Loss
1.31975
Key Levels
1.32975, 1.32375, 1.31975, 1.31625, 1.31250
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.31975
Take Profit
1.32375
Stop Loss
1.31625