EXNESS - Analytics

    EXNESS

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    USDCAD: growth against the background of increasing oil reserves in the US

    Buy on a level breakthrough of 1.3256 with 1.3445 target. Stop loss = 1.3200.

    Reason for the trading strategy

    The Loonie came under pressure against the background of falling WTI crude oil prices to $39.4 per barrel after the publication of contradictory statistics from the US Department of Energy. Last week, the oil reserves in the world's largest economy grew by nearly 9.4 million barrels against the forecast of growth by 2.4 million barrels, but the gasoline inventories fell by 4.6 million barrels, while crude oil production decreased from 9.068 million to 9.038 million barrels per day.

     

    USDCAD, H4

     


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