Will the USDCAD fall. Check the USDCAD analysis at different times:
The U.S. dollar is overvalued compared to other currencies, says Cresset’s Jack Ablin
Will the USDCAD fall: Regardless of any effects on the US economy, given that most commodities are priced in USD, this overvaluation is adding a savage additional inflationary spiral to the world’s economy. Add this to the effect on the cost of US debt servicing, particularly for poorer countries and you have a perfect storm.
Check the USDCAD analysis at different times:
Review of USDCAD analysis in terms of Elliott, Price Action and Candlestick
From 2021/08/20 until today, it has been in a price ceiling, and after an increase, it has hit this price level, ie from 1.2877 to 1.2948, at this price level more than 4 times, and this price level for USDCAD is one It is considered a great resistance.In the above analysis, the RSI shows a positive divergence in daily time, which indicates a high buy.
The candlestick is a long-shadow Dodge that shows a lot of sales at this price, but at the end of the USDCAD market had a good growth, and in the daily time a powerful long-shadow candlestick that still has strong buyers.
Elliott: In Elliott’s surveys, it is now at the end of Wave 5, which has returned 1.382 Wave 1. Waiting for market approval
In the usdcad analysis, the 4-hour tick has a very strong resistance that has hit this price level 4 times. See what it shows when the candlestick had a big drop with the site and the body is suitable for sale. In this big growth, in a uptrend, it hit this line 3 times. How does the market view react to this uptrend line and this level of resistance?
Will the USDCAD fall
In the above analysis, usdcad is currently on an uptrend line and even to buy it, the risk is high to buy.
There is a lot of news for usdcad this week
- ISM Manufacturing PMI on May 2nd
- JOLTS Job Openings on May 3rd
- ADP Non-Farm Employment Change News May 4
Federal Funds Rate
FOMC Press Conference
- Average Hourly Earnings m / m
Non-Farm Employment Change
This is usd news from May 2 to May 6