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United States and Canada: short positions fluctuated and fell
2022-07-20
1229
Fundamental analysis:
The dollar remained volatile around 1.28673 against the Canadian dollar. Canadian energy company TC Energy announced that some crude oil transportation of the US Canada keystone oil pipeline was facing force majeure after a pump station in South Dakota suffered a power outage.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the momentum of short positions has maintained a good downward trend, and there is no sign of stopping in the short term. The early low is close at hand, and the break is imminent. MACD index is in the short position to maintain a downward trend, and RSI index is in the short position to maintain a weak downward trend;
Long short turning point: 1.28821
Pressing position: 1.29113, 1.29420
Support position: 1.28383, 1.28150
Trading strategy: bearish below 1.28821, target 1.28383, 1.28150
Alternative strategy: bullish above 1.28821, 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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