USDCAD: consolidation before the publication of crude oil and petroleum products in the US

February 19, 2015

Sell on a level breakthrough of 1.2350 with 1.2110 target. Stop loss = 1.2410.
Reason for the trading strategy
Tonight, the data on the oil and petroleum products reserves in the US for last week will be published. The expected reduction of stocks by 1.8 million barrels could support the oil prices and increase the demand for the Loonie.


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