U.S. And Canadian Central Banks Tightening Pace, USDCAD Try To Turn Up When In Low Position
U.S. And Canadian Central Banks Tightening Pace, Global Tightening Still Pushes Up The Risk Aversion Of USD, Bullish For USDCAD.
Investors are suggesting to consider waiting for the price to pull back to 1.2590 with a buy order, take profit on 1.2680, stop loss on 1.2550.
In order to curb the highest inflation in 30 years, the Bank of Canada started the largest interest rate hike in 22 years. Among them, the Bank of Canada was the first central bank in the G7 countries to raise interest rates by 50 basis points at a time, and it was also the first time since May 2000. basis points, which led to weakness in the U.S. and Canada on Wednesday. However, under the next probability of the FED raising interest rates by 50 basis points, the monetary tightening pace of the U.S. and Canada central banks is not very different. But under the synchronization of global monetary tightening, the general direction still pushes up the risk aversion demand of the USD. Therefore, considering the above factors, the market outlook of the USDCAD will be in volatile and bullish market.
In the 4-hour K-line chart, the K-line is currently operating near the middle orbit of the Bollinger Band in an oscillating and bullish pattern KD indicator up，MACD short momentum convergence，the overall research is judged to be a volatile and bullish market.
(The above remarks represent personal views and do not represent the platform’s position. Opinions are for reference only)
Get Free Trial Bonus, Free Experience Investment! The Journey Of Investing From Scratch.
Register for free at HXFX and get a free trial bonus to experience investment immediately! It’s easy and stress-free, you can withdraw your profits from trading! Professional analysts provide the latest market strategies every day and the daily investment tutorial that you can understand at a glances, all support you from 0 basics to investment experts!
Seats are limited, click me to get the free trial bonus now, let’s start your investment journey>>
Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.