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Us and Canada: weak downside

2022-06-28
1366
Fundamental analysis:

The USD / Canadian dollar remained volatile around 1.28679, and oil may be one of the substitutes for natural gas in Europe. As the natural gas supplied by Russia through the Beixi pipeline is greatly reduced, the natural gas supply in Europe is facing difficulties.




USD Canadian dollar USDCAD - 4-hour K-line chart display:



Technical analysis:


According to the 4-hour chart, the short power continued to move downward near the downtrack of the Bollinger belt index, the Bollinger belt index continued to open its mouth slowly, the MACD index was in a weak position at the lower side of the 0 axis, and the RSI index was in a narrow range at the lower side of the 50 equilibrium line;


Multi empty turning point: 1.28782


Pressing position: 1.29144, 1.29485


Support position: 1.28331, 1.27980


Trading strategy: bearish below 1.28782, target 1.28331, 1.27980


Alternative strategy: bullish above 1.28782, target 1.29144, 1.29485

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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