USDCAD: consolidation before publication of weekly figures for the US oil reserves

Jul 16, 2015
Aug. 26, 2015, 09:38
Sell on a level breakthrough of 1.3287 with 1.3170 target. Stop loss = 1.3340.

Reason for the trading strategy

According to the American Petroleum Institute, crude oil inventories in the US fell by 7.3 million barrels per day last week. Today, at the time of the publication of the data on oil reserves in the United States by the US Department of Energy, the price of WTI crude oil could rise above $41 per barrel, which will allow the USD/CAD pair to test the level of 1,317.