EXNESS - Analytics

    EXNESS

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    Real

    The USDCAD is approaching the lower end of the range of 1.3652-1.3845

    Sell on a level breakthrough of 1.3652 with 1.3550 target. Stop loss = 1.3702.

    Reason for the trading strategy

    The WTI crude oil prices adjusted upwards from 30.6. to 31.9 dollars per barrel, after the publication of the US Department of Energy statistics on stocks of oil and oil products in the US. Despite an increase in oil reserves by 3.502 million barrels, the US distillate and gasoline stocks declined by 1.66 million and 2.236 million barrels respectively last week, while oil production declined from 9.135 million to 9.102 million barrels per day.  

         

    USDCAD, H1


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