EXNESS - Analytics

    EXNESS

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    USDCAD: growth before the Bank of Canada's meeting

    Buy on a level breakthrough of 1.4668 with 1.4750 target. Stop loss = 1.4618.

    Reason for the trading strategy

    Today, the Bank of Canada is likely to reduce its key interest rate from 0.5% to 0.25%, which will put pressure on the Loonie. In addition, the prerequisites for growth of the USD/CAD pair to the level of 1.475 make the WTI crude oil prices fall below $28 per barrel.

    USDCAD, H1


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