💲USD / CAD, Continuation of the uptrend, price accumulation💲

٣٠ سبتمبر ٢٠٢٢

USD / CAD, Continuation of the uptrend, price accumulation before the move.

In the current analysis, we look at USD / CAD.

We are currently at key levels, the price area around 1.36 1.38 is a moment of accumulation for this pair, which has been going on since September 26.

Today the level of 1.364 was defended, which gave us the confirmation of the Head and Shoulders Pattern. Considering that we are in a long-term upward trend, and the dollar continues to dominate other currencies in terms of strength, which is due to the flight of capital from Europe to America due to geopolitical tensions.

An interesting opportunity has arisen and it would be worth taking advantage of.

It is also worth mentioning the event that took place today and was the most important event today, i.e. the Core PCE Price Index (MoM) (Aug), which surprised the market consensus by beating expectations and amounting to 0.6% compared to the previous month in which was 0.1%.

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