Technical analysis USDCAD for 31.01.2022
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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.2705. The closest resistance is the level 1.2765
Key levels
- 1.2940, 1.2845, 1.2765, 1.2705, 1.2650, 1.2575, 1.2520, 1.2455
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.2705, with Take Profit of 1.2575 and Stop Loss of 1.2765
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2765, with Take Profit of 1.2845 and Stop Loss of 1.2705