EXNESS - Analytics

    EXNESS

    628.50 4.00/10
    69% of positive reviews
    Real

    The OPEC's inaction creates preconditions for a weakening Loonie.

    Buy on a level breakthrough of 1.3133 with 1.3185 target. Stop loss = 1.3083.

    Reason for the trading strategy

    Yesterday Abdallah El Badri, the Secretary General of OPEC, said that OPEC can not yet come up with the specific figures on the production quotas, as Iran is increasing production, while production in Libya and Nigeria is unstable. The news is negative for the oil market and the exchange rate of the Loonie.
     

    USDCAD, H4

     


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