Sell on a level breakthrough of 1.2985 with 1.2895 target. Stop loss = 1.3035.
Reason for the trading strategy
Today the oil prices are rising (the WTI oil rose by 1.5%) against the background of an impending strike in Norway, which may reduce the extraction of raw materials by the largest producer in Western Europe. Payment dispute is the reason for the workers' protest. The final round of negotiations will take place on June 30 and July 1. In the short term, the news could support the currency of the Petroleum Exporting Countries. The USDCAD is capable of testing the level of 1.2895 today.
Reason for the trading strategy
Today the oil prices are rising (the WTI oil rose by 1.5%) against the background of an impending strike in Norway, which may reduce the extraction of raw materials by the largest producer in Western Europe. Payment dispute is the reason for the workers' protest. The final round of negotiations will take place on June 30 and July 1. In the short term, the news could support the currency of the Petroleum Exporting Countries. The USDCAD is capable of testing the level of 1.2895 today.
Exness - USDCAD: under pressure against the background of rising oil prices
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