Daily Market Analysis 07 Sep 2022

Daily Market Analysis 07 Sep 2022

  • Market News
  • Daily Market News
  • 2022, 07 September

USD/CAD

Technical Outlook

The major swing high has been broken on the higher side on Sept. 01 & been consolidating there ever since. The immediate hurdle the price may take is 1.3222. There is higher a possibility of even breaking above this level in the coming days. 1.3100 level has been an important support multiple times in an exceedingly longer timeframe. Slowly entering long positions near that level is the best plan to with.


Technical Indicators
Action
RSI (65)
BUY
Oscillator (85)
BUY
MACD (Above Midline)
BUY
200 EMA (1.2780)
BUY


Strategy


Scenario 1
Scenario 2
Action
Buy
Buy
Entry
1.3180
1.3170
Target 1
1.3210
1.3200
Target 2
1.3240
1.3230
Stop Loss
1.3150
1.3140


Key Signposts 

CAD: BoC decision

RELATED ARTICLES

View All
NFP Facebook Contest

MOST POPULAR