Buy on a level breakthrough of 1.3399 with 1.3450 target. Stop loss = 1.3349.
Reason for the trading strategy
Despite the decline in the number of oil rigs by 10 in the US last week, the WTI crude oil prices declined by more than 3% today, approaching the level of 40 dollars per barrel, and put pressure on the Loonie. Furthermore, the reduction in Canada's retail sales by 0.5% (m/m) in September does not contribute to its strengthening.
Reason for the trading strategy
Despite the decline in the number of oil rigs by 10 in the US last week, the WTI crude oil prices declined by more than 3% today, approaching the level of 40 dollars per barrel, and put pressure on the Loonie. Furthermore, the reduction in Canada's retail sales by 0.5% (m/m) in September does not contribute to its strengthening.
The USDCAD pair is approaching its yearly high
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