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Main » 2018 » November » 7 » Trader trading ideas on 07/11/2018
12:12
Trader trading ideas on 07/11/2018

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Pair USDCAD continues to rise for the fourth consecutive session. By 10:00 Moscow time the initiative rests with the buyers of the US dollar, however, the situation could change at any moment. Market participants are betting on the strengthening of the American belief that the midterm elections in Congress proved to be successful for the current US president Donald Trump. Also he described them himself. Nevertheless, we should not forget that the Democrats still gained control of the House of Representatives, that was the first time in the last 8 years.

 

AMarkets

 

The dominance of the democratic opposition in the House of Commons is able to create quite an obstacle for the implementation of further legislative initiatives Trump or even lead to the US president's impeachment. Despite the fact that this scenario is highly unlikely to write-it is not worth accounts. Before the market will come an understanding of how to proceed, the buyers of the Canadian dollar may well take advantage of local embarrassment to a pair USDCAD back below 1.30. Also on the "Canadian" continues to influence and oil. Given that the hydrocarbons to the Canadian economy - the main export resource, it is not surprising that the recent decline in prices was the reason for his weakness. However, as Brent trims $ 70 per barrel testing, the game, even for a not very long period of time, can start and buyers. Technical factors, it is enough. In other words, the potential recoverable oil market correction could be another factor in reducing the USDCAD pair.

 

USDCAD SellStop 1,3090 TP 1,2850 SL 1,3150


Brent crude quotes during the trading session on Tuesday updated the minimum price since mid-August, reaching $ 71.18 per barrel. With such dynamic testing $ 70 support remains a matter of few hours. WTI crude oil dropping seven straight sessions, which is the longest series of the recession in the last 20 months. A key factor in reducing the cost of hydrocarbons is the liberation of Trump 8 countries from the need to comply with the ban on the supply of oil from Iran. On Monday, US President Donald Trump told reporters that he plans to "slightly slower" move on sanctions against Iran, because they do not want to create a supply shortage in the market and, thereby, to spur even greater price rally. Additional oil pressure exerted monthly report of the US Energy Information Administration, released on Tuesday, in which the EIA raised its forecast for US oil production. According to the forecast production in 2019 in the US will rise to 12.06 million. Barrels per day, which is 2.6% higher than in the previous forecast. Today, the focus of traders in the US report on oil stocks. Analysts in a poll of S & P Global Platts expect the EIA reported an increase in stocks of crude oil last week at 1.9 million. Barrels. Let us recall that inventories increased for six consecutive weeks. In that case, if the forecast is justified, the bears will attempt to pull Brent to support the $ 70 per barrel. that the EIA reported an increase in stocks of crude oil last week at 1.9 million. barrels. Let us recall that inventories increased for six consecutive weeks. In that case, if the forecast is justified, the bears will attempt to pull Brent to support the $ 70 per barrel. that the EIA reported an increase in stocks of crude oil last week at 1.9 million. barrels. Let us recall that inventories increased for six consecutive weeks. In that case, if the forecast is justified, the bears will attempt to pull Brent to support the $ 70 per barrel.


UKOIL SellStop 71,60 TP 70,00 SL 72,10

 

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

 

 

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