Buy on a level breakthrough of 1.2981 with 1.3143 target. Stop loss = 1.2931.
Reason for the trading strategy
According to the US Department of Energy, last week the US oil reserves fell by 0.9 million barrels with an expected decline of 2-2.5 million barrels. The WTI crude oil prices reacted by a decline to around 47.9 dollars per barrel. In the short term, the growth of an anti-risk sentiment will put pressure on the commodity assets, which could push the USDCAD pair to the 1.3143 level.
Reason for the trading strategy
According to the US Department of Energy, last week the US oil reserves fell by 0.9 million barrels with an expected decline of 2-2.5 million barrels. The WTI crude oil prices reacted by a decline to around 47.9 dollars per barrel. In the short term, the growth of an anti-risk sentiment will put pressure on the commodity assets, which could push the USDCAD pair to the 1.3143 level.
Exness- USDCAD: growth against the background of falling oil prices
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