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Main » 2019 » February » 14 » Trading Ideas traders 14/02/2019
12:28
Trading Ideas traders 14/02/2019

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Trading session on Wednesday was quite volatile for USDCAD. day trading range exceeded 50 points. Despite the fact that the day was closed at the level of 1.3252, it is clear that the Canadian currency is a fundamental support to make another attempt to test the level of 1.32. By 9:00 Moscow USDCAD develops predictable pricing in a downward trend in oil prices - one of the main export resource of Canada.

 

 

AMarkets

 

 

On the side of buyers and increase in risk appetite against the background of the expected breakthrough in the negotiations between the US and China, which could happen before the end of this week. US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Laythayzer today are due to arrive in Beijing for the continuation of negotiations on a higher level. In addition, investors reacted positively to the achievement of inter-party agreement in the US Congress on the costs, in order to avoid a new period of termination of the US government. Last Friday, the Canadian dollar's rise was also connected with the positive data on employment in January. The number of employees has grown stronger than predicted by experts, which brought to market the idea of ​​the Bank of Canada ready to tighten national monetary policy. Since the beginning of the year, the Canadian dollar rose more than 3%, this is the best result among the G10 currencies. Further dynamics of couples will depend on whether the Brent will in the coming days to reach $ 65 per barrel. In this case, the Canadian currency had a good opportunity to strengthen up to 1.30.


USDCAD SellStop 1,3230 TP 1,30 SL 1,3280


Quotes of oil brand Brent (UKOIL) on Wednesday continued to rebuild on new signs of reduction of world oil production, as well as optimism about the upcoming talks between the US and China, aimed at overcoming trade disputes between the two countries. On the eve of the leader of the Organization of Petroleum Exporting Countries, Saudi Arabia, has identified plans for further production cuts in the coming months. This was reported by Financial Times citing Oil Minister Khalid Al-Falih, who said that Saudi Arabia is to further reduce oil production by 500 thousand. Barrels a day, to bring production up to 9.8 mln. Barrels per day. Oil prices rose despite data from the Energy Information Administration US Department of Energy, reported an increase in commercial stocks of crude oil last week by 3.6 million barrels to 450.8 million barrels. It is worth noting, that inventories rose for the fourth consecutive week, reaching its highest level since November 2017. Market participants attributed such dynamics with a sharp drop in refinery utilization in the United States due to the beginning of the seasonal maintenance. In particular, according to the Energy Information Administration refinery utilization fell by 5% to 85.9%. Possibly, the negative impact of this report have been neutralized reports the International Energy Agency (IEA) to reduce the global supply of oil in January by 1.4 million barrels to 99.7 million barrels a day. Apparently, the agreement of OPEC + works and the world market is gradually coming into balance. Given this news background, it is recommended to hold long positions. Market participants attributed such dynamics with a sharp drop in refinery utilization in the United States due to the beginning of the seasonal maintenance. In particular, according to the Energy Information Administration refinery utilization fell by 5% to 85.9%. Possibly, the negative impact of this report have been neutralized reports the International Energy Agency (IEA) to reduce the global supply of oil in January by 1.4 million barrels to 99.7 million barrels a day. Apparently, the agreement of OPEC + works and the world market is gradually coming into balance. Given this news background, it is recommended to hold long positions. Market participants attributed such dynamics with a sharp drop in refinery utilization in the United States due to the beginning of the seasonal maintenance. In particular, according to the Energy Information Administration refinery utilization fell by 5% to 85.9%. Possibly, the negative impact of this report have been neutralized reports the International Energy Agency (IEA) to reduce the global supply of oil in January by 1.4 million barrels to 99.7 million barrels a day. Apparently, the agreement of OPEC + works and the world market is gradually coming into balance. Given this news background, it is recommended to hold long positions. by the Energy Information Administration refinery utilization fell by 5% to 85.9%. Possibly, the negative impact of this report have been neutralized reports the International Energy Agency (IEA) to reduce the global supply of oil in January by 1.4 million barrels to 99.7 million barrels a day. Apparently, the agreement of OPEC + works and the world market is gradually coming into balance. Given this news background, it is recommended to hold long positions. by the Energy Information Administration refinery utilization fell by 5% to 85.9%. Possibly, the negative impact of this report have been neutralized reports the International Energy Agency (IEA) to reduce the global supply of oil in January by 1.4 million barrels to 99.7 million barrels a day. Apparently, the agreement of OPEC + works and the world market is gradually coming into balance. Given this news background, it is recommended to hold long positions.


UKOIL BuyLimit 63,90 TP 65,50 SL 63,50


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

 

 

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