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USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD USDCAD is selling quite a bit right now. The reason for that is CAD STRONG as OIL is quite STRONG and USD is going DOWN a bit with RATE EXPECTATIONS SLOW. Also, MARKETS RISK has been ON again due to this reason. This time the US CPI data was NEGATIVE. The FOMC OUTLOOK was also very NEUTRAL. So now USD is very WEAK. But now with US YEILD getting a good CORRECTION, USD is going DOWN. USDCAD MARKET is currently DOWN due to US DATA and UPDATES being NEGATIVE and MARKET SENTIMENT being RISK ON. We think it will go up to the 1.3570 level before going down again. Also, with this MARKET RISK ON SENTIMENT, the USDCAD PRICE can SELL to the 1.2800 LEVEL in the future. In any case, there will be an opportunity to SELL USDCAD up to 1.2800 LEVEL. We wait until the DOWN TREND CONTINUES. MONDAY may be RISK ON again according to MARKET UPDATES. So follow the given STRUCTURE. It is seen that the OVERALL MARKET SENTIMENT has become POSITIVE.
by benny_marshall
1
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD USDCAD is now quite BUY. The reason is that OIL is slightly WEAK and USD is slightly UP. Also, MARKETS RISK has been OFF again. And the US CPI data was very good. The FOMC OUTLOOK was also very POSITIVE yesterday. So now USD has become very STRONG. US RETAIL SALES DATA was also very POSITIVE. As a result, the sentiment related to USD became STRONG in recent days. But now with good DEMAND for US YEILD, USD is moving UP. US LABOR DATA is also scheduled to be released this week. Due to this reason, STOCKS can continue to move DOWN SIDE if the USD goes up like this in the coming days. USDCAD MARKET is currently RANGE because US DATA and UPDATES are POSITIVE and MARKET SENTIMENT is temporarily POSITIVE. We think it will go down to the 1.36662 level before going up again, and with the market risk off sentiment, it can go to the 1.4050 level. Anyway, USDCAD SELL will be possible up to 1.3155 LEVEL after that. We wait until the DOWN TREND CONTINUES. FOLLOW THE STRUCTURE GIVEN.
by benny_marshall
1
USDCAD | New perspectiveIt is important to note here how the price of crude oil is directly proportional to the value of the Canadian Dollar and if we take into consideration the OPEC+ decision a couple of weeks ago to cut down production by 2 million barrels per day; the likelihood of soaring oil price remains inevitable. The consumption of crude oil has remained steady despite consumers struggling with soaring inflation and I am of the opinion that the effect of these events will begin taking its toll on USDCAD as we witnessed multiple rejections of the C$1.4000 level in the last couple of weeks by the sellers. Will there be a sell momentum in the meantime this week? Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1