Sell on a level breakthrough of 1.3675 with 1.3620 target. Stop loss = 1.3725.
Reason for the trading strategy
An adjusting rise in WTI crude oil prices from 35.35 dollars to 37.7 dollars per barrel supports the Loonie. Note that the leading oil and gas company in Canada made up their 2016 budgets based on the cost of WTI oil at $50 per barrel. In the medium term, the Loonie is likely to strengthen, but today this process can prevent the publication of the US consumer price index for November.
Reason for the trading strategy
An adjusting rise in WTI crude oil prices from 35.35 dollars to 37.7 dollars per barrel supports the Loonie. Note that the leading oil and gas company in Canada made up their 2016 budgets based on the cost of WTI oil at $50 per barrel. In the medium term, the Loonie is likely to strengthen, but today this process can prevent the publication of the US consumer price index for November.
USDCAD: consolidation higher than the level of 1.3675
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