EXNESS - Analytics

EXNESS

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USDCAD: consolidation below the level of 1.45

Buy on a level breakthrough of 1.4522 with 1.4650 target. Stop loss = 1.4472.

Reason for the trading strategy

The final IAEA report on Iran's nuclear program is expected to be published today. Iran expects the sanctions imposed on it by the US and the EU to be lifted. After that the Islamic Republic can export some extra oil (0.5-1 million barrels per day) to external markets. The falling oil prices and the Loonie has become uncontrollable. The Canadian dollar will probably strengthen after the USD/CAD pair tests the strategic resistance level of 1.5.

USDCAD, H4

USDCAD



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