Long or short: Long
Trade rationale: USD/CAD appears to be retracing to the .9950 handle and finding support there this week. There’s a bullish divergence on the 4-hour time frame suggesting a potential rally later on, and the jobs report could be the catalyst for today. BOC has withdrawn its hawkish remarks and highlighted the weaknesses in the Canadian economy so a weak jobs figure could push back their rate hike schedule further.
Exits: SL at .9920, PT at 1.0120
Reward-to-risk: A little over 2-to-1 as I have a 30-pip stop and a 70-pip target.