Buy on a level breakthrough of 1.2507 with 1.2563 target. Stop loss = 1.2457.
Reason for the trading strategy
In April, Canada's GDP decreased by 0.1% (m/m), with an expected growth of 0.1% (m/m). These news is negative for the Loonie. Meanwhile, the Bank of Canada is unlikely to pursue another reduction in key interest rates in the country, given the stabilization of oil prices in Q2 2015.