EXNESS - Analytics

    EXNESS

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    USDCAD: under pressure after publication of the API statistics on oil reserves

    Sell on a level breakthrough of 1.2938 with 1.2888 target. Stop loss = 1.2988.

    Reason for the trading strategy

    The WTI crude oil prices rebounded from $46 to $47.8 per barrel. The American Petroleum Institute statistics, according to which, the decline in the US crude oil inventories amounted to 6.7 million barrels, support the oil quotations. The USDCAD pair, discounting these statistics, is trying to get into the range of 1.2888-1.2938.

     

    USDCAD, H1

     


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