Sell on a level breakthrough of 1.3160 with 1.3020 target. Stop loss = 1.3210.
Reason for the trading strategy
According to Baker Hughes, last week, the number of active oil rigs in the US fell by 6 units to 842 units. After the Friday reduction both the prices for WTI crude oil and the Loonie are rising. During this week, they can come close to the last week's highs.
Reason for the trading strategy
According to Baker Hughes, last week, the number of active oil rigs in the US fell by 6 units to 842 units. After the Friday reduction both the prices for WTI crude oil and the Loonie are rising. During this week, they can come close to the last week's highs.
USDCAD: under pressure due to a lower number of active oil rigs in the US
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