简体中文
ภาษาไทย
繁體中文
Indonesia
Oil prices test highs strongly, USD/CAD drops rapidly
2022-05-31
872
Fundamental analysis:
Brent for July delivery rose $2.24 to settle at $121.67, the highest close since March 8; the contract for August delivery rose $2.04 to $117.60 a barrel. Although EU leaders made it clear on Monday that they would not be able to reach an agreement on the ban on Russian oil imports at the Brussels summit, that did not prevent the EU from making plans to ban imports of Russian crude oil, driving oil prices up.
USD/CAD daily chart:
Technical analysis: The daily moving averages are in a bearish arrangement, the exchange rate is accelerating downward, the MACD is running below the 0 axis and the volume is slightly heavy, and the RSI is slowly weakening. It is expected that the short-term exchange rate will likely fall further.
Long-short turning point: 1.2750
Resistance: 1.2890 1.3030
Support level: 1.2630 1.2480
Trading strategy: under 1.2750, bearish, target price is 1.2630, 1.2480
Alternative strategy: above 1.2750, bullish, target price at 1.2890, 1.3030
The above analysis is a personal opinion and is for reference only.
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
