Technical analysis USDCAD for 30.08.2024

30.08.2024 16:35
Intraday
Technical

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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.34650. The closest resistance is the level 1.35200

Key levels

  • 1.36100, 1.35625, 1.35200, 1.34650, 1.34350, 1.33975

Trading scenario

  • Recommended opening long positions (Buy Limit) from the level of 1.34650, with Take Profit of 1.35200 and Stop Loss of 1.34350

Alternative scenario

  • Recommended opening short positions (Sell Stop) from the level of 1.34350, with Take Profit of 1.33975 and Stop Loss of 1.34650

Scenario
Recommendation
BUY LIMIT

Entry Point
1.34650

Take Profit
1.35200

Stop Loss
1.34350

Key Levels
1.36100, 1.35625, 1.35200, 1.34650, 1.34350, 1.33975
Alternative scenario
Recommendation
SELL STOP

Entry Point
1.34350

Take Profit
1.33975

Stop Loss
1.34650