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Main » 2019 » April » 24 » Forex trading ideas traders today 24.04.2019 USDCAD and the real prospect of growth above 1.35
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Forex trading ideas traders today 24.04.2019 USDCAD and the real prospect of growth above 1.35

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One of the most important fundamental events of today's meeting of the Bank of Canada will be devoted to the prospects of the national monetary policy. The night before, the Canadian currency against the US dollar has fallen by almost 2 month low, fixed above the level of 1.34. The maximum of the day amounted to 1.3441. Pressure on the "Canadian" has had a general strengthening of the dollar, as well as the expectation that today the Canadian regulator completely excluded from the statements of comments about a possible rate hike. 

 

 

AMarkets

 

 

It is worth noting that a significant deterioration in macroeconomic conditions observed in recent months, forcing the Bank of Canada seriously consider easing monetary policy by lowering interest rates. A significant drag on the economy was the decision to limit the Alberta oil. In addition, the overall decline was reinforced by the slowdown in the housing market, as well as a decrease in business optimism due to concerns about a trade war between the US and China. The fall of the Canadian dollar occurred despite the rise in oil prices to six-month high after the market threat to the global supply shortage has arisen because of new US sanctions against Iran.


USDCAD BuyLimit 1,3420 TP 1 , 3550 SL 1,3390


Brent crude oil at the auctions on Tuesday updated the maximum price since October 2018, reaching $ 74.06. Investors do not doubt that the quotes will be able to test near-term resistance at $ 75. The same position is shared by us. "Bull" market dynamics "black gold" is caused by a US decision not to grant an exemption from sanctions against those countries which continue to buy Iranian oil. This decision shall enter into force on 2 May 2019. At the same time the US administration of President assured that the OPEC members, Saudi Arabia and the UAE, will ensure an adequate supply of oil. Confirmed this and officials of Saudi Arabia, said yesterday that "the country is ready to increase production to replace the loss of Iranian exports, if need be." These messages clearly inspired sellers, given that tighter US sanctions against Iran could lead to the conclusion of the agreement on the limitation of production of OPEC members + energy pact. Today, traders attention will be paid to the US data on oil reserves, which will be released at 17:30 GMT. Polling analysts S & P Global Platts, oil is expected to decrease by 500 thousand. Barrels, gasoline stocks decline in 1.1 Mill. Barrels and destocking distillate 1 Mill. Barrels. If the forecast is confirmed, in oil buyers will have one more reason to get to the short-term goal of $ 75 per barrel. However, they are unlikely to go higher. Polling analysts S & P Global Platts, oil is expected to decrease by 500 thousand. Barrels, gasoline stocks decline in 1.1 Mill. Barrels and destocking distillate 1 Mill. Barrels. If the forecast is confirmed, in oil buyers will have one more reason to get to the short-term goal of $ 75 per barrel. However, they are unlikely to go higher. Polling analysts S & P Global Platts, oil is expected to decrease by 500 thousand. Barrels, gasoline stocks decline in 1.1 Mill. Barrels and destocking distillate 1 Mill. Barrels. If the forecast is confirmed, in oil buyers will have one more reason to get to the short-term goal of $ 75 per barrel. However, they are unlikely to go higher.


BuyLimit the TP 73,20 UKOIL 75,20 SL 72,80

 

 

Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets.

 

 

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