The weakness of the US dollar yesterday on the one hand, brought out an oil rally, while on the other hand, upset the buyers of USD / CAD, especially since the quote returned to the yearly low.
But based on the Stop Hunting system, a strong pullback is possible, since the pair left good price levels, on which large players can set up new transactions.
In particular, long positions may be opened according to the strategy presented on the chart above.
According to the plan, the quotes would form three wave patterns (ABC), the targets of which are 1.27900 and 1.28300.
Such follows the classic Price Action and Stop Hunting methods.
Of course, traders would still need to monitor and control the risks to avoid losing profit. As mentioned before, this financial market is precarious, but will also give huge profits as long as you use the right approach.
Good luck!
