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Us and Canada: strong rise
2022-07-06
1098
Fundamental analysis:
The dollar rose strongly to around 1.30287 against the Canadian dollar. With the Federal Reserve raising interest rates quickly to combat rampant inflation, investors are increasingly concerned about demand under the general tightening of the global financial environment. As market concerns shift from high inflation to recession, oil is trying to adapt to this change.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart: the bull power made a strong upward attack, breaking through the nodes near the brin belt index on the track and finishing at a high level. The brin belt index showed an open mouth trend and continued to move upward. The MACD index was above the 0 axis, and the RSI index was at 50 equilibrium. The online side was concussed and moved upward and then finishing;
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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