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I read this somewhere regarding CAD news. Before the news, check if oil is up or down. If oil is up, we have to sell/short USD/CAD. If oil is down, we have to buy/long USD/CAD.
So if we sell USD/CAD, then we also sell AUD/CAD, EUR/CAD, GBP/CAD, NZD/CAD but buy CAD/JPY and CAD/CHF.
Reverse if we are buying USD/CAD.
Its been working for me, i actually wish there is CAD news every week, lol.