Buy on a level breakthrough of 1.3779 with 1.3845 target. Stop loss = 1.3729.
Reason for the trading strategy
The weekly statistics on the US oil reserves will be published today by the US Department of Energy. It is expected that the past week stocks will fall by 0.3 million barrels. We believe the statistics will not provide any significant support for the Loonie. At the time of the expected increase of the US key interest rates, the oil prices and the Loonie may drop significantly.