Sell on a level breakthrough of 1.3278 with 1.3190 target. Stop loss = 1.3328.
Reason for the trading strategy
According to Baker Hughes, the number of oil rigs in the US declined by 9 to 555 last week, and the number of gas-fired plants reduced by 4 to 189. Their total number decreased by 1,173, or 61.2% over the past year. Such dynamics may result in a significant reduction of oil production in the United States in Q1 2016. In the medium term, the WTI crude oil price could rise to $50 per barrel.