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USDCAD: multi head high level finishing
2022-09-02
1059
Fundamental analysis:
The USD / Canadian dollar fluctuated around 1.31535, and the president of the Bank of Canada, Mr. mclem, made it clear that the central bank is focused on raising the interest rate to the "high end" or slightly higher than the neutral interest rate, that is, the 2% - 3% range in which the monetary policy neither stimulates nor drags the economy. In the past 20 years, the neutral interest rate range has fallen.
US dollar and Canadian dollar USDCAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum rose with strong shocks, the high-level short-term consolidation and translation, the market bullish sentiment remained, the MACD index was in the high-level consolidation and translation of the Bulls' region, and the RSI index was in the long-term consolidation and translation;
Long short turning point: 1.31382
Pressing position: 1.31783, 1.32035
Support position: 1.31128, 1.30849
Trading strategy: bullish above 1.31382, target 1.31783, 1.32035
Alternative strategy: bearish below 1.31382, targets 1.31128 and 1.30849
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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