USD/CAD has seen increased volatility in the past months due to a number of factors, including the massive oil price slump, the Fed’s stimulus measures and of course the safe-haven attribute of the greenback. Currently, the market is seemingly on the border breaking out again. We might see the direction higher as valid and adjust our trade accordingly as the room to the upside would be tremendous.
On the other hand, we could also the stronger CAD as possible and would hence leave room for a downside move, especially when the Oil price will grow more.
Buy stop: 1.4115, SL 14050, TP: 1.4220
Sell stop: 1.4085, SL: 1.4120, TP: 1.3950