EXNESS - Analytics

    EXNESS

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    The USDCAD pair breaks through the 1.3750 support level

    Sell on a level breakthrough of 1.3750 with 1.3465 target. Stop loss = 1.3800.

    Reason for the trading strategy

    The Brent crude oil prices are close to the mark of $35 per barrel against the background of upcoming informal talks between the Russian and Saudi Arabian energy ministers. If the OPEC countries and Russia agree to cut oil production, oil prices may jump up to $40. The USDCAD pair, whose chart forms "head and shoulders", may fall to the 1,285 level in the medium term.

    USDCAD, Daily


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