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The United States and Canada: low weak move down
2022-07-22
1159
Fundamental analysis:
The U.S. dollar remained volatile around 1.28669 against the Canadian dollar, and the annual rate of Canada's new home price index in June was 7.9%, up from 8.4%.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the momentum of short positions remained volatile and the downward trend continued. Although the Bulls waited for the opportunity to enter after the low and narrow range consolidation, the market as a whole was still weak. The MACD index was in the short position and maintained the consolidation and translation, and the RSI index was hovering below the 50 equilibrium line;
Long short turning point: 1.28785
Pressing position: 1.29113, 1.29420
Support position: 1.28838, 1.28150
Trading strategy: bearish below 1.28785, target 1.28838, 1.28150
Alternative strategy: bullish above 1.28785, targets 1.29113, 1.29420
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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