EXNESS - Analytics

    EXNESS

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    The rising oil prices could lead to a significant strengthening of the Loonie

    Sell on a level breakthrough of 1.3812 with 1.3760 target. Stop loss = 1.3862.

    Reason for the trading strategy

    The severance of diplomatic relations between the two largest oil producers in OPEC, Saudi Arabia and Iran, is supporting the oil prices against the background of the rising geopolitical tensions in the Middle East. In the short term, a barrel of WTI oil could once again test the mark of 39 dollar per barrel, and the USDCAD pair could fall to the 1.376 level.

     

    USDCAD, H1

     


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