Technical analysis USDCAD for 31.08.2023
31.08.2023 17:48
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 ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35275. The closest resistance is the level 1.35550
Key levels
- 1.36125, 135800, 1.35550, 1.35275, 1.34950
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.35550, with Take Profit of 1.35275 and Stop Loss of 135800
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 135800, with Take Profit of 1.36125 and Stop Loss of 1.35550
Scenario
Recommendation
SELL LIMIT
Entry Point
1.35550
Take Profit
1.35275
Stop Loss
135800
Key Levels
1.36125, 135800, 1.35550, 1.35275, 1.34950
Alternative scenario
Recommendation
BUY STOP
Entry Point
135800
Take Profit
1.36125
Stop Loss
1.35550