EXNESS - Analytics

    EXNESS

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    USDCAD: growth against the background of falling oil prices

    Buy on a level breakthrough of 1.2852 with 1.2910 target. Stop loss = 1.2802.

    Reason for the trading strategy

    Oil prices continue to decline against the growth of oil production in the US and the strengthening of the dollar in the international currency market. With the oil prices being close to 50 dollars per barrel for two consecutive weeks, the number of oil installations in the US is growing.  Over the past week their number grew by 3 to 328. An increased demand for the world's reserve currency is linked to the weakness of its European counterparts – the euro and the pound.

     

    USDCAD, H4

     


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