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United States and Canada: low weak finishing
2022-07-21
1199
Fundamental analysis:
The dollar remained volatile around 1.28810 against the Canadian dollar. Canada's CPI accelerated to a 40 year high in June, and the Bank of Canada continued to face pressure to raise interest rates significantly. Rising gasoline prices are a major reason for rising inflation, while food and housing costs are showing signs of slowing.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
4-hour chart: after the high short power continued to fluctuate and decline, the overall short position of the market was good, the low narrow consolidation was slow and there were signs of upward movement, and the long power was waiting for the opportunity to enter the market. The MACD index was in the low consolidation of the short area, and the RSI index was in the narrow consolidation and translation of the short area;
Long short turning point: 1.28686
Pressing position: 1.29113, 1.29420
Support position: 1.28383, 1.28150
Trading strategy: bullish above 1.28686, targets 1.29113, 1.29420
Alternative strategies: bearish below 1.28686, targets 1.28383, 1.28150
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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