Sell on a level breakthrough of 1.3947 with 1.3810 target. Stop loss = 1.4000.
Reason for the trading strategy
In November, Canada's GDP grew by 0.3% (m/m), while the US GDP fell from 2% (q/q) to 0.7% (q/q) in Q4 2015. The statistics support the Loonie. Once the current adjusting decline in the oil prices stops, the USDCAD pair will again test the level of 1.3947.