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USDCAD: bear shock moves down
2022-10-18
1117
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.37147. Canada's national economic confidence index was 44.38 as of October 14, a previous value of 45.8.
USD CAD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions moves downward rapidly, and the short-term decline may continue. The market short positions begin to emerge. The MACD indicators remain sorted downward and hover below the 0 axis, while the RSI indicators are narrow sorted below the 50 equilibrium line;
Empty turning point: 1.37237
Pressing: 1.37566, 1.37859
Support: 1.36864, 1.36561
Trading strategy: bearish under 1.37237, target 1.36864, 1.36561
Alternative strategy: bullish above 1.37237, target 1.37566, 1.37859
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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