EXNESS - Analytics

    EXNESS

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    The Loonie stubbornly resists the decline in the WTI oil prices

    Buy on a level breakthrough of 1.3975 with 1.4100 target. Stop loss = 1.3925. 

    Reason for the trading strategy

    The US Federal Reserve believes that the risks associated with lending to the US energy sector remain "moderate."  Meanwhile, the decrease in the credit rating of a number of major oil companies, including the US ones last week suggests otherwise.  The Canadian oil and gas companies are also at risk.  At the moment, the price of a WTI barrel is worth 26.71 USD, which puts pressure on the Loonie.        

    USDCAD, H4


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