EXNESS - Analytics

    EXNESS

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    USDCAD: consolidation in the range of 1.3947-1.4147

    Sell on a level breakthrough of 1.3947 with 1.3810 target. Stop loss = 1.4000.

    Reason for the trading strategy

    In November, Canada's GDP grew by 0.3% (m/m), while the US GDP fell from 2% (q/q) to 0.7% (q/q) in Q4 2015. The statistics support the Loonie. Once the current adjusting decline in the oil prices stops, the USDCAD pair will again test the level of 1.3947.           

    USDCAD, H1


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