Buy on a level breakthrough of 1.3047 with 1.3100 target. Stop loss = 1.2997.
Reason for the trading strategy
The reduced price for WTI crude oil below $ 50 per barrel are putting pressure on the Loonie. Oil prices are falling due to the growth of crude oil stocks by 2.5 billion barrels in the USA. However, the weakness of the US dollar against the euro does not let the USD/CAD pair to consolidate above the level of 1.3047.