EXNESS - Analytics


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    USDCAD: consolidation below the level of 1.3055

    Buy on a level breakthrough of 1.3055 with 1.3120 target. Stop loss = 1.3005.

    Reason for the trading strategy

    Despite the quite good data on the US stocks and crude oil (for oil futures buyers) published by the Ministry of Energy, the price of BRENT oil tested the level of $46.2 per barrel, which corresponds to the value of 200-day moving average. Such dynamics can be explained by the increasing demand for the dollar, acting as a safe asset, and an expansion of the imbalance between supply and demand on the oil market.


    USDCAD, H1


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