EXNESS - Analytics

EXNESS

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USDCAD: consolidation in the range of 1.2831-1.2891

Buy on a level breakthrough of 1.2891 with 1.3015 target. Stop loss = 1.2831. 

Reason for the trading strategy

In the short term, the oil prices could fall to $47 per barrel against the background of the news that Saudi Arabia has cut the official selling price of crude oil for Asia and the USA for August. On the key Asian market, the most common Saudi grade, Arab Light, will be on sale in August, 40 cents cheaper than it was in July. Thus, the game for a fall in the oil market resumes.

 

USDCAD, H1

 



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