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Instrument: USDCAD+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.34223 with take profit at 1.34471
Bearish Preference:
A sell position is envisaged if the price trades below price 1.33804 with take profit at 1.33606
Fundamentals:
No major Fundamentals
Comment:
The U.S. dollar stabilized in early European trade Wednesday, with traders trying to work out the likely path of the Federal Reserve’s monetary policy by digesting economic data and comments from policy makers. Federal Reserve Bank of St. Louis President James Bullard said, in an interview with Reuters on Tuesday, that he favored continued interest-rate hikes to counter persistent inflation, potentially lifting the Fed Funds rate all the way to a range of 5.5% to 5.75%
Analysis: SCRUM Team
