EXNESS - Analytics

EXNESS

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USDCAD: Consolidation in the 1.3812-1.3983 range

Buy on a level breakthrough of 1.3983 with 1.4086 target. Stop loss = 1.3933.

Reason for the trading strategy

The USD/CAD pair remains clamped in the 1,3812-1,3983 range. After testing the $ 38.35 resistance level, the WTI crude oil prices fell back to 36.71 dollars. The oil market participants have not yet considered the geopolitical tensions in the Middle East as a factor that can start a negative trend in the oil market that has emerged due to the excess of supply over demand.

 

USDCAD, H1



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