Sell on a level breakthrough of 1.3371 with 1.3300 target. Stop loss = 1.3421.
Reason for the trading strategy
Before the publication of the weekly statistics on oil and petroleum products in the US, the price of WTI crude oil is rising above $ 45 per barrel, and the Loonie is strengthening against the US dollar. The expected decline of 0.5 million barrels in the US oil reserves could push the USD/CAD pair to test the 1.3371 level. Apart from that, today, it is worth paying attention to the data on the Canadian GDP for July.