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United States and Canada: wide range shock rise
2022-07-12
1230
Fundamental analysis:
The US dollar / Canadian dollar remained volatile around 1.30275. In the future, crude oil supply will gradually ease. The US and opec+ production growth rate is still slow, but the growth momentum is good. Russian oil production has been close to the pre conflict level between Russia and Ukraine, and there is room for easing supply in the medium term.
USD CAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, after the short-term consolidation and retreat at a high level, the bull power began to accumulate, the bull tentatively moved up, the MACD index was on the upper side of the 0 axis, the bull area maintained a weak consolidation, and the RSI index was on the upper side of the 50 equilibrium line;
Multi empty turning point: 1.30113
Pressing position: 1.30577, 1.30893
Support position: 1.29764, 1.29363
Trading strategy: bullish above 1.30113, targets 1.30577, 1.30893
Alternative strategies: bearish below 1.30113, targets 1.29764, 1.29363
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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