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USDCAD: consolidation after the International Energy Agency report

Sell on a level breakthrough of 1.2269 with 1.2201 target. Stop loss = 1.2320.

Reason for the trading strategy

The IEA has supported black gold, having predicted an increase in world oil demand by 1.2 million barrels per day during the second half of 2015. In the coming weeks, the price of WTI crude oil may try to break through the upper limit of the $ 51.8-61.6 range, supporting the currencies of Petroleum Exporting Countries.




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