UsdCad Analysis from 21-02-2022The idea shared is an analysis of USDCAD for a mid term swing.
Fundamentally, The CAD has shown strength owing to the recently released
retail sales reports as opposed to the retail sales report from the US earlier on.
Sentimentally, due to the recent shortage in supply for oil, the demand for oil has increased and
given that Canada remains the 3rd largest exporters of oil, we expect to see a rise in the value of CAD.
Technically, the pair has been ranging in a supply zone as shown in the schematics and explained in our analysis video
with the recent break and close below the moving average on the weekly and daily chart.
it is expected for price to fill in the supply zone and then continue downwards.
, price may have to retest the previous support level and face
resistance there for a drop in price.
Our sentimental bias hence is to watch and plan for a sell trade on UsdCad.
Lets go take some risk, lets go make some money, Millionaire Logistics.
