USD/CAD: Short down to 1.2000 or lower. We believe crude oil has stabilized above $30 and will eventually shoot to retest $70. We also believe the will delay rate hikes and that the dollar will fall. In short, we believe the dollar is trading sideways to down, and that crude oil is trading sideways to up. As the Canadian Dollar is often correlated to the price of crude oil – we have theorized that the USD/CAD is setting up for downside.