Sell on a level breakthrough of 1.3718 with 1.3600 target. Stop loss = 1.3768.
Reason for the trading strategy
The rapid increase in the WTI oil prices, which is now trading at around $32.8 per barrel, creates the preconditions for the strengthening of the Loonie. The US oil production has been falling for a second week in a row, amounting to 9.214 million barrels per day by the end of January. Reduced investment in the global oil and gas industry will create an imbalance where demand for oil will exceed its supply.