EXNESS - Analytics

    EXNESS

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    USDCAD: Consolidation in the 1.3260-1.3371 range

    Sell on a level breakthrough of 1.3260 with 1.3200 target. Stop loss = 1.3310.

    Reason for the trading strategy

    Yesterday it became known that the oil producing countries of Latin America and the Caribbean will meet in Ecuador on March 11 to work out solutions to stabilize the situation in the oil market. The oil prices have reacted positively to the news. The WTI crude oil is now consolidating around $37.4 per barrel, supporting the Loonie.

    USDCAD, H1


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