EXNESS - Analytics

    EXNESS

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    USDCAD: under pressure against the background of an adjusting rise in the oil prices

    Buy on a level breakthrough of 1.3340 with 1.3421 target. Stop loss = 1.3290.

    Reason for the trading strategy

    The prices for WTI crude oil and the Loonie are strengthening after the publication of the weekly statistics on the total number of active oil rigs in the United States, which fell from 771 to 767 at the end of last week. However, the cycle of the US interest rate policy tightening, which can be launched next month, is able to push the USD/CAD pair above the level of 1.3421.

    USDCAD, Daily

    USDCAD


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