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USD/CAD Analysis 30 April, 2015

Source: Exness Forex Broker

Sell on a level breakthrough of 1.1944 with 1.1804 target. Stop loss = 1.2000.

Reason for the trading strategy

Over the past week, the oil and petroleum products in the US increased by 1.91 million barrels, which was worse than the figure of 5.31 million barrels of the week before last. At the same time, the oil reserves in the Cushing terminal fell by 0.514 million barrels. In the short term the price of WTI crude oil may rise to 61.7 dollars per barrel, while the USD/CAD pair may fall to the 1.1804 level.

 

USD/CAD Chart

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