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In May, the US diesel inventory reached the lowest level in 17 years, and the Canadian dollar maintained a downward trend
2022-06-08
1090
Fundamental analysis:
The USD / Canadian dollar remained volatile around 1.25279. In May, the US diesel inventory reached the lowest level in 17 years, and the gasoline inventory was about 8% lower than the average level in the past. In the future, the refining capacity of the United States is expected to decrease by 1.69 million barrels per day.
USD Canadian dollar USDCAD - 4-hour K-line chart display:
Technical comments: the short power continued to fluctuate downward in the middle and lower rail section of the Bollinger belt index channel. After the low level reached the node near 1.25220, the short-term short power continued to move downward. After the low level of the Bollinger belt index closed, there were signs of opening. The MACD index remained in the short area and the RSI index remained in the short area;
Multi empty turning point: 1.25425
Pressing position: 1.25705, 1.26018
Support position: 1.24977, 1.24719
Trading strategy: bearish below 1.25425, target 1.24977, 1.24719
Alternative strategy: bullish above 1.25425, target 1.25705, 1.26018
The above analysis is a personal point of view and is for reference only.
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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