USDCAD heading to volatile week with bearish taste

FX:USDCAD   U.S. Dollar / Canadian Dollar
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USDCAD             is heading to quite volatile week ahead with important data from US ( NFP, ISM, Unemployment) and CAD (GDP and Unemployment) with bearish stated after closing the week with Pin Bar below 55EMA. Not to mention that Pin Bar on Weekly chart is also suggesting that bears might take the control over the pair for upcoming days.

With oil             hovering below $40 CAD will have tough time to appreciate therefore I expect the move to be driven by depreciation of USD considering rate hike might be postponed to December.

Short term bearishness might be opportunity to pick up some pips before bull will take the control around 1.24 levels where I see appropriate song enter with stop loss below 1.22
That's a very large buying and stop zone, what is your proposed R:R?
FX_Trader_Analyst dionvuletich
Thank you for your comment dionvuletich.

I prefer conservative entries therefore I will buy around 1.27 which is mid point 382 and 500 Fib retracement. As price will approach this zone I drop to smaller time frames and will look for price action confirmations. Stop will be placed below 618 Fib around 1.214 levels.

I had these zone wide as I see aggressive traders moving in earlier around 382 zones but they have usually tighter stops while more conservative traders might prefer to waiting until the retest of 500 or 618 will take place. I see this as still valid entry that needs to be however confirmed by price action on smaller time frames and one should buy retracement.
dionvuletich FX_Trader_Analyst
Well I have to admit I am short from 1.3325, looking for much lower levels and i was just looking at Crude and Brent and they both have formed a large bullish engulfing candles with divergence on the weekly charts, so a little hesitant to sell CAD's right now

Saying my first target is somewhere around your levels noted above so some short term buying should happen there, but it is still 500 pips lower
FX_Trader_Analyst dionvuletich
Yes I see bearish move to resist for next few weeks.

I saw upcoming week as week where bearish move will be initiated or some can say strengthened
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