EXNESS - Analytics


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USDCAD: consolidation before the publication of Canada's GDP

Sell on a level breakthrough of 1.3311 with 1.3245 target. Stop loss = 1.3361.

Reason for the trading strategy

Consolidation of the WTI crude oil prices at around $42 per barrel keeps the Loonie away from sales. Yesterday it was announced that Canada's balance of payments totaled -16.2 billion Canadian dollars in Q3 2015, with a forecast of -15.2 billion Canadian dollars. Meanwhile, the index value was revised upwards for Q2 2015, form -17.4 billion Canadian dollars to -16.6 billion Canadian dollars. Today, attention should be paid to the publication of the GDP and business activity index in Canada's manufacturing sector.



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