Sell on a level breakthrough of 1.2911 with 1.2840 target. Stop loss = 1.2961.
Reason for the trading strategy
Despite the decline in the price of WTI crude oil from 42.5 to 37.6 dollars per barrel since March 18, the USDCAD pair continued to consolidate around the lower limit of the range of 1.2911-1.3295. This "anomaly" is due to the revaluation of the prospects of the US Federal Reserve tightening the monetary policy. This year, at best, the US Federal Reserve will raise the interest rates only twice and not 4 times.