USD/CAD: technical analysis
04 June 2019, 12:33
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL |
| Entry Point | 1.3437 |
| Take Profit | 1.3360 |
| Stop Loss | 1.3465 |
| Key Levels | 1.3357, 1.3397, 1.3419, 1.3429, 1.3451, 1.3468, 1.3484, 1.3513, 1.3545, 1.3564 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.3495 |
| Take Profit | 1.3545 |
| Stop Loss | 1.3465 |
| Key Levels | 1.3357, 1.3397, 1.3419, 1.3429, 1.3451, 1.3468, 1.3484, 1.3513, 1.3545, 1.3564 |
USD/CAD, H4
On the 4-hour chart, the instrument decreases along the lower border of Bollinger bands, the price range is greatly expanded. The MACD histogram is in the negative area, gradually increasing the volume, the signal line is preparing to cross the zero line downwards, after which a sell signal will be generated. Stochastic is in the oversold zone, the oscillator lines are moving horizontally.
USD/CAD, D1
On the daily chart, the sideways trend is still in force, the instrument moves within a narrow corridor formed by the boundaries of Bollinger bands. The MACD histogram is in the positive area, keeping a poor signal to open long positions. Stochastic is in the neutral zone, the lines of the oscillator are reversed downwards.
Key levels
Resistance levels: 1.3451, 1.3468, 1.3484, 1.3513, 1.3545, 1.3564.
Support levels: 1.3429, 1.3419, 1.3397, 1.3357.
Trading tips
Short positions can be opened from the current level with the target at 1.3360 and stop loss 1.3465.
Long positions can be opened from the level of 1.3495 with the target at 1.3545. Stop loss 1.3465.
Implementation period: 1–3 days.
On the 4-hour chart, the instrument decreases along the lower border of Bollinger bands, the price range is greatly expanded. The MACD histogram is in the negative area, gradually increasing the volume, the signal line is preparing to cross the zero line downwards, after which a sell signal will be generated. Stochastic is in the oversold zone, the oscillator lines are moving horizontally.
USD/CAD, D1
On the daily chart, the sideways trend is still in force, the instrument moves within a narrow corridor formed by the boundaries of Bollinger bands. The MACD histogram is in the positive area, keeping a poor signal to open long positions. Stochastic is in the neutral zone, the lines of the oscillator are reversed downwards.
Key levels
Resistance levels: 1.3451, 1.3468, 1.3484, 1.3513, 1.3545, 1.3564.
Support levels: 1.3429, 1.3419, 1.3397, 1.3357.
Trading tips
Short positions can be opened from the current level with the target at 1.3360 and stop loss 1.3465.
Long positions can be opened from the level of 1.3495 with the target at 1.3545. Stop loss 1.3465.
Implementation period: 1–3 days.
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