I am thinking from a fundamental perspective on Oil prices that USDCAD could potentially devalue at tomorrow's OPEC+ meeting should a tapering of the existing cuts occur.
 
I have marked out an approximate entry, stop and exit plan in the chart, but I will be watching oil and USDCAD while the OPEC+ meeting is ongoing with an ultimate decision pending a tapered announcement.
 
Should OPEC not agree to taper existing oil production levels then I will not open a position until re-evaluated.

USDCAD Potential Short

Dec 01 2020

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