USDCAD - Has the Direction Changed?
USDCAD - Has the Direction Changed?
From a currency index standpoint, the DXY appears to be trending downward while the CXY is trending upward. Could the Canadian dollar be getting stronger than the US dollar?
Let’s observe from a technical standpoint. There appears to be the formation of a double top. If the technicals are accurate and the harmonic pattern is on point, we see the potential for USDCAD to drop as low as 1.37081. If it breaks this level, we may see the price go as low as 1.36499.
In the meantime, we observe and wait to see which economy’s fundamentals wax stronger. Currently, the CAD is stronger.
From a currency index standpoint, the DXY appears to be trending downward while the CXY is trending upward. Could the Canadian dollar be getting stronger than the US dollar?
Let’s observe from a technical standpoint. There appears to be the formation of a double top. If the technicals are accurate and the harmonic pattern is on point, we see the potential for USDCAD to drop as low as 1.37081. If it breaks this level, we may see the price go as low as 1.36499.
In the meantime, we observe and wait to see which economy’s fundamentals wax stronger. Currently, the CAD is stronger.
註釋
The currency index observations are still on point. Price respected the 1.39000 region and price is still expected to drop to the levels mentioned previously.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。