EXNESS - Analytics


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    USDCAD: Consolidation in the 1.3371-1.3454 range

    Sell on a level breakthrough of 1.3371 with 1.3300 target. Stop loss = 1.3421.

    Reason for the trading strategy

    Before the publication of the weekly statistics on oil and petroleum products in the US, the price of WTI crude oil is rising above $ 45 per barrel, and the Loonie is strengthening against the US dollar. The expected decline of 0.5 million barrels in the US oil reserves could push the USD/CAD pair to test the 1.3371 level. Apart from that, today, it is worth paying attention to the data on the Canadian GDP for July.

    USDCAD, H1


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