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United States and Canada: finishing near the China Railway
2022-07-01
1271
Fundamental analysis:
The USD / Canadian dollar remained volatile around 1.28710. During the global economic recession, the oil price will remain at $100 / barrel. If the global demand drops by 5% (this is unlikely), the oil price will drop to $80 / barrel, because the inventory will increase, which can meet the consumption for about 9 days.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bull Power maintained in the Bollinger belt index channel and moved up in a narrow range in the lower rail section. After touching the nodes near the upper rail, the Bull Power moved back. The Bollinger belt index began to slowly open its mouth after showing a closing trend. The MACD index hovered below the 0 axis, and the RSI index was reorganized below the 50 equilibrium line;
Long short turning point: 1.28782
Pressing position: 1.29124, 1.29495
Support position: 1.28401, 1.28100
Trading strategy: bearish below 1.28782, target 1.28401, 1.28100
Alternative strategy: bullish above 1.28782, targets 1.29124, 1.29495
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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