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Usdcadanalysis

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
Sell USDCADGood day, traders! Don't forget to put your thumbs up and write your comment if you like the idea USDCAD sell from 1.3800 and 1.3850. Once again tested the monthly target and, taking into account the removal and return for support in the region of 1.3800, you need to look for an oncoming lane. Further growth potential will be only with a breakdown and fixation above 1.3850. First objective standard, global objective test 1.3600 and ideally update 1.3500 DISCLAIMER: The opinion of the author may not coincide with yours! Keep this in mind and consider in your trading transactions before making a trading decision.
Short
by airstels
1