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Us and Canada: weak shock downward
2022-07-05
1181
Fundamental analysis:
The dollar remained volatile around 1.28559 against the Canadian dollar. The Bank of Canada: inflation expectations hit a record high recently, and business surveys showed that supply could not keep up with demand; 78% of Canadian companies expect inflation to exceed 3% in the next two years.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart: maintain the wide vibration in the Bollinger belt index channel for a long time, the Bollinger belt index is in the closing translation, the MACD index is in the weak position under the 0 axis, and the RSI is in the narrow range consolidation under the 50 equilibrium line;
Long short turning point: 1.28782
Pressing position: 1.29124, 1.29495
Support position: 1.27138, 1.27826
Trading strategy: bearish below 1.28782, targets 1.27138, 1.27826
Alternative strategy: bullish above 1.28782, targets 1.29124, 1.29495
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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