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USDCAD: Low level oscillation

2022-11-18
1062
Fundamental analysis:

The US dollar/Canadian dollar maintained a shock near 1.33252. A missile crashed in Poland's territory may be an interceptor launched by Ukraine's air defense system, rather than an air strike launched by Russia. This eased people's concern about the spread of the Russian Ukrainian war to NATO countries.


USD CAD - 4-hour K line chart shows:



Technical analysis:

The 4-hour chart shows that the low position bull power keeps moving up and then retreats when it is obstructed. In the short term or tangled low position, narrow amplitude shocks occur. The MACD indicator stays in the short position and moves up, while the RSI indicator stays in the weak position near the 50 equilibrium line;

Empty turning point: 1.33076

Pressing: 1.33684, 1.34042

Support: 1.32635, 1.32317

Trading strategy: bullish above 1.33076, target 1.33684, 1.34042

Alternative strategy: bearish under 1.33076, target 1.32635, 1.32317

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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