Technical analysis USDCAD for 16.10.2024
16.10.2024 05:47
Intraday
Technical
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 turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines
Key levels
1.37377, 1.37678, 1.37898. 1.38102, 1.38373
Trading scenario
Recommended opening long positions (Buy Limit) from the level of 1.37678, with Take Profit of 1.38373 and Stop Loss of 1.37377
Alternative scenario
Recommended opening short positions (Sell Limit) from the level of 1.37898, with Take Profit of 1.37377 and Stop Loss of 1.38102
Scenario
Recommendation
BUY LIMIT
Entry Point
1.37678
Take Profit
1.38373
Stop Loss
1.37377
Key Levels
1.37377, 1.37678, 1.37898. 1.38102, 1.38373
Alternative scenario
Recommendation
SELL LIMIT
Entry Point
1.37898
Take Profit
1.37377
Stop Loss
1.38102