11 July Market Outlook

2023-07-11 16:08Fonte:BtcDana

USDCAD 
Technical Analysis
USDCAD have big potential to sell around 1.32775. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 1.32520

Fundamental Analysis
The oil economic condition today is mixed. Oil prices are currently trading around $76 per barrel, which is down from the highs of $100 per barrel seen earlier this year. This is due to a number of factors, including concerns about a global recession, rising interest rates, and increased production from OPEC+ countries. However, there are also some positive signs for the oil market, such as strong demand from China and India.

Overall, the oil economic condition is expected to remain volatile in the near term.

                                                                                                               DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete

 

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