EXNESS - Analytics

    EXNESS

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    USDCAD: consolidation in the range of 1.2980-1.3070

    Sell on a level breakthrough of 1.2980 with 1.2900 target. Stop loss = 1.3030.

    Reason for the trading strategy

    The current weakening of the Loonie, which is believed to be temporary, is due to a decrease in prices for WTI crude oil to 48.1 dollars per barrel. The latter nervously react to the statistics on oil production by the OPEC countries, which in September increased by 109 thousand barrels to 31.57 million barrels a day. This Thursday, when the weekly statistics on oil reserves in the United States is published, the oil prices could return to a maximum of this week of $51 per barrel.

    USDCAD, H1

    USDCAD


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