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Yellen said that the conflict between Russia and Ukraine led to a sharp rise in global energy prices

2022-06-09
1128
Fundamental analysis:

The USD / Canadian dollar remained volatile around 1.25568. Republican Senator John Thune accused the Biden administration of not adopting any strategy to deal with the rise in oil prices, and criticized Biden's stimulus plan for increasing inflation. "There is no doubt that the $2trillion bill last year caused the economy to overheat, which is why we are in today's mess."


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




Technical comments: the bearish power continued to fluctuate and slow down in the lower rail section of the Bollinger belt index channel. After the low level reached the node near 1.25173, it continued to move downward. The low level weakness of the Bollinger belt index showed signs of closing. The MACD index remained weak in the short area, and the RSI index remained narrow in the short area;


Multi empty turning point: 1.25707


Pressing position: 1.26078, 1.26438


Support position: 1.25113, 1.24708


Trading strategy: bearish below 1.25707, target 1.25113, 1.24708


Alternative strategy: bullish above 1.25707, target 1.26078, 1.26438


The above analysis is a personal point of view and is for reference only.

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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