EXNESS - Analytics

    EXNESS

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    USDCAD: under pressure against the background of rising oil prices

    Sell on a level breakthrough of 1.3011 with 1.2951 target. Stop loss = 1.3061.

    Reason for the trading strategy

    The rising prices for WTI crude oil to 49.5 dollars per barrel today can allow the USD/CAD pair close below the 1.3 level. Black gold is supported by the statements made by the heads of OPEC and the IEA, which ascertain a significant decline in investment in the world's oil production, which in 2015 could reach $ 130 billion. In addition, yesterday the US Department of Energy said that by the middle of 2016, oil production in the US could fall to 8.6 million barrels a day.

    USDCAD, H4

    USDCAD


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