EXNESS - Analytics

    EXNESS

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    USDCAD: Consolidation in the range of 1.2949-1.3022

    Buy on a level breakthrough of 1.3022 with 1.3072 target. Stop loss = 1.2972.

    Reason for the trading strategy

    Expectations of growth in key interest rates in the US put pressure on the oil price and support the demand for the USD/CAD pair. If the downward trend of the weekly US oil inventories is confirmed this week, the further growth in the pair will be impeded. It's exit beyond the range of 1.2949-1.3022 will signal the opening of its respective positions.

     

    USDCAD, H1

    USDCAD


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