HomeLive CommentsWTI crude oil breaks 65 as inventories jumped 6.8m, USDCAD surges

WTI crude oil breaks 65 as inventories jumped 6.8m, USDCAD surges

ActionForex
By ActionForex

WTI crude oil drops sharply after larger than expected rise in US crude oil inventories, which rose 6.8m comparing to expectation of -2.6m. WTI crude oil drops to as low as 64.60 and is currently down -3.45%.

USD/CAD rides on the fall in oil prices, as well as Dollar’s own strength and breaches 1.3170. The development affirms our view that correction from 1.3385 has completed at 1.2961. Further rise should be seen to 1.3289 resistance next.

Start Trading
Start Trading
Start Trading
Start Trading
ActionForex
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.

Latest Analysis

Load more

Learn Forex Trading