Today the BoC (Bank of Canada) will determine its overnight rate. Expecting no change to the rate, hence we should expect a rising CAD against the USD We may see a long setup by the USDCAD. Note that it is important to look at the lower time frame and wait for consolidation. For now this is the lower risk trade compared to the short trade.
In case that USDCAD breaks downward we will see a short setup. If that happens, we wait for the pullback before entering into the trade.