EXNESS - Analytics

EXNESS

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USDCAD: growth before the publication of Canada's GDP

Buy on a level breakthrough of 1.2420 with 1.2563 target. Stop loss = 1.2370.

Reason for the trading strategy

Today at 12.30 GMT, Canada's GDP will be published. The 0.1% (m/m) growth in this index, expected in April, may provide little support for the Loonie. Meanwhile, the increased demand for US government bonds is pushing the USD/CAD pair to the top of the range of 1,2310-1,2420.

 

USDCAD, H4

USDCAD



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