Overview:
The USD/CAD pair is going to call for a sideways market this week because the price will probably be trapped between the level of 1.0730 and the 1.0600 level in order to form a range of 130 pips. The support is set at the level of 1.0603. Therefore, the bulls are going to buy above the level of 1.0603 with a first target of 1.0680, it might resume to 1.0730. It should be also noted that a double top is going to set at the price of 1.0750, for that a stop loss should never exceed your maximum exposure amounts. Hence, set stop loss below 1.0570. On the other hand, the resistance is set at the level of 1.0730. So, the trend will call for a bearish market at the level of 1.0735 since there is a minor bearish channel. Thus, sell at 1.0735 with a target of the 1.06150 level.