Sell on a level breakthrough of 1.2750 with 1.2600 target. Stop loss = 1.2850.
Reason for the trading strategy
Yesterday the WTI oil prices broke through the important resistance level of $42.5 per barrel on the news of the agreement reached on the freezing of oil extraction between Russia and Saudi Arabia, which would not focus on Iran's position on this issue. Note that the Bank of Canada meeting will be held today, from which we do not expect any surprises.
Reason for the trading strategy
Yesterday the WTI oil prices broke through the important resistance level of $42.5 per barrel on the news of the agreement reached on the freezing of oil extraction between Russia and Saudi Arabia, which would not focus on Iran's position on this issue. Note that the Bank of Canada meeting will be held today, from which we do not expect any surprises.
The decision made by Saudi Arabia and Russia supported the Loonie
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