Technical analysis USDCAD for 22.11.2024

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.396. The closest resistance is the level 1.400

Key levels

1.389, 1.392, 1.396, 1.400, 1.404

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 1.392, with Take Profit of 1.404 and Stop Loss of 1.389

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 1.400, with Take Profit of 1.389 and Stop Loss of 1.404