EXNESS - Analytics

    EXNESS

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    Real

    USDCAD: consolidation below the level of 1.2951

    Buy on a level breakthrough of 1.2951 with 1.3060 target. Stop loss = 1.2900.

    Reason for the trading strategy

    In April, Iran's oil production reached approximately 3.8 million barrels per day.  As it became known at the end of last week, Iran would be ready to join the OPEC's policy of quotas on oil production over one or two months after the oil production in the country reaches the pre-sanction indicators (4 million barrels a day). In the coming months, oil prices may decrease by 8-9%, which would lead to a weakening of the Loonie. 


    USDCAD, H4

     


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