So, I plan to buy the CAD for tomorrow against a weaker currency. This could be the US Dollar , the EURO , NZD or CHF, even the Yen as a short-term daytrade. I am not sure at the moment. I will possibly know in the morning.
Risks to this trade: If the USD is the only currency that I can pair this with in the morning, the risk to this trade would be US data coming out tomorrow; data that I cannot predict, but only have a hunch about, and I don't go by hunches, but by evidence. If US data is , then it could destroy the case to sell USDCAD . No data for Japan in the morning, so I will be looking at the Nikkei for any move up in the equity market to BUY the CADJPY pair.