Price is bouncing of a minor support zone. CAD remains one of the weakest currencies out there so this could provide a nice long trade opportunity with a tight stop just under today's bar.
CAD weakened further today. I anticipate further upside in this pair. However, if I see price action failing at 1.86 level, I'd take my trade off the table or at the very least, move the stop to break-even.
I'd enter the trade with a limit order to get a better Reward to Risk ration. Hopefully, price retraces a little and fills my order.