Buy on a level breakthrough of 1.3218 with 1.3295 target. Stop loss = 1.3168.
Reason for the trading strategy
Yesterday Nawal al-Fuzaya, the Kuwait representative, said that in order to fix the oil producing the February 2016 level or the average figure for January-February can be selected. We believe that after the shale oil leaves the market (in the second half of 2016), the OPEC countries and Russia will decide to cut oil production. Meanwhile, the probability of the USDCAD pair testing the resistance level of 1.3295 in the near future will remain high.