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United States and Canada: high-level finishing
2022-07-07
1109
Fundamental analysis:
The dollar / Canadian dollar remained volatile around 1.30355. If the Bank of Canada reduced inflation from 7.7% to 2% by rapidly raising interest rates, it may also cause significant "collateral damage". The success rate of the central bank adopting the way of rapidly raising interest rates to reduce inflation to 2% is zero. The study suggests changing the current approach to inflation.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart: after the strong pull-up of bull power, the high level maintained a narrow consolidation and translation, and returned to the shock in the Bollinger belt index channel. The Bollinger belt index began to close slowly after showing an opening trend. The MACD index maintained a shock and rise in the bull region, and the RSI index maintained a consolidation and translation in the bull region;
Long short turning point: 1.30054
Pressing position: 1.30692, 1.31075
Support position: 1.29683, 1.29289
Trading strategy: bullish above 1.30054, targets 1.30692, 1.31075
Alternative strategies: bearish below 1.30054, targets 1.29683, 1.29289
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.
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