Sell on a level breakthrough of 1.2835 with 1.2770 target. Stop loss = 1.2885.
Reason for the trading strategy
Today the WTI crude oil prices have tested the level of $49 per barrel, which led to a reassessment of the exchange rate of the Loonie upwards. The market was heated up by the Goldman Sachs forecast review that raised the forecast figures for WTI crude oil from $35 to $45 per barrel for Q2 2016; from $40 to $49 per barrel for Q3 and from $45 to $51 per barrel for Q4.
Reason for the trading strategy
Today the WTI crude oil prices have tested the level of $49 per barrel, which led to a reassessment of the exchange rate of the Loonie upwards. The market was heated up by the Goldman Sachs forecast review that raised the forecast figures for WTI crude oil from $35 to $45 per barrel for Q2 2016; from $40 to $49 per barrel for Q3 and from $45 to $51 per barrel for Q4.
Exness - The growing oil prices support the Loonie
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