USDCAD: consolidation before the publication of the statistics on Canada's labor market

February 6, 2015

USDCAD

Sell on a level breakthrough of 1.2351 with 1.2123 target. Stop loss = 1.2420.

Reason for the trading strategy

   The rise in prices for WTI crude oil of up to 51.6 dollars per barrel allowed the Loonie to seize the initiative from its US counterpart.  Today, at the time of the publication of data on the US and Canada's labor markets, a rise in volatility of the USD/CAD pair is likely.     

USDCAD, H4

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