USD/CAD misses out on the oil trade but you don't have to
Oil was down 2.7% on Wednesday but USD/CAD hardly moved. Normally falling crude lights a fire under the pair.
At times I'd argue that's a sign of underlying weakness in the pair but this isn't one of those times.
Why didn't fall like it 'should' have today? Probably because large parts of Canada and the US were on holiday.
It's a simple trade idea but sometimes the simple ones are the best. Buy USD/CAD at these levels in the expectation that the pair will rally tomorrow when liquidity and traders return.
Target 1.3323 initially and add if it breaks and ride it to 1.34, the Sept highs or beyond. Hit the breaks if it falls 30 pips.
