Technical analysis USDCAD for 19.01.2022
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. Strong resistance is the merged Tenkan-se and Kijun-sen lines. The closest support is the level 1.24500
Key levels
- 1.29375, 1.28500, 1.27850, 1.27250, 1.26500, 1.25850, 1.25225, 1.24500, 1.23650
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.25225, with Take Profit of 1.25850 and Stop Loss of 1.24600
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.24500, with Take Profit of 1.23650 and Stop Loss of 1.25225