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USD/CAD Strategy of the transaction Direction of transaction Selling Entrance (open price) 1,3600 Goal (closing price) 1,3500 Stop Loss 1,3650 Horizon till 19.00 MSK 17.05.2017*
Canadian dollar may get support in coming days. Canada's economy is heavily dependent on oil. So there is oil will grow, will grow and "canadian".
And oil prices there are enough reasons for growth. First, there is almost no doubt that the agreement on production cuts will be extended for another 9 months. Second, in the United States is likely to continue to fall oil. In the country the holiday season and the demand for automobile fuel is increasing.
in addition, statistics from the USA recently is not happy. And now the market is not so sure that in June the us Central Bank will raise rates. If today's data on industrial production and construction sector will be weak, the dollar will come under further pressure.
the Technical base
In the area of the 1,3600 level the price formed a support. On the intraday charts the prices are fixed below the level of 50-interval moving average. A breakout by USD/ CAD this level will accelerate the fall.
Recommendations for capital management in the transaction
If you Deposit $500 is required to open a trade in Libertex to sell USD/CAD with the following parameters:
In the case that your Deposit is different in a big way from the$ 500, it is necessary to proportionally increase the size of the transaction in Libertex. The multiplier remains unchanged.
In the case of negative developments in the loss on the transaction will not be more than 2.1% of the size of Your Deposit.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee results.
*if within the specified period, the order was opened, but not reached the goal of take-profit or stop-loss, it is recommended to close the position at market at 19.00 MSK on the last trading day of the period of the signal. Open position not later than 17 .0 5 1 2 .2017 :00 GMT .
the oil, the dollar, the fed, the canadian dollar, the USDCAD Forex club
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