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USDCAD: High level wide amplitude vibration
2022-10-12
1123
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.37759. As of October 7, Canada's national economic confidence index was 45.82, a previous value of 46.5.
USD CAD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' power remained at a high level, and after a short-term breakthrough from the previous high, they began to fluctuate widely. The market's bullish sentiment remained. The MACD index remained in the bulls' area and maintained its consolidation and translation, while the RSI index remained in the 50 balanced online weak side;
Empty turning point: 1.37759
Pressing: 1.38298, 1.38618
Support: 1.37422, 1.37119
Trading strategy: bullish above 1.37759, target 1.38298, 1.38618
Alternative strategy: bearish under 1.37759, target 1.37422, 1.37119
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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