EUR/CAD broke past the long-term range resistance around the 1.4200-1.4250 area on rising U.S. oil stockpiles and a downbeat ECB statement. The commodity currency could still get bogged down by risk aversion and expectations of weaker energy demand. After all, the looming Fed interest rate hike could keep a lid on spending and investment activity around the world, leading to lower production. Applying the Fib tool on the swing high and low on the 4-hour time frame shows that the 38.2% level is close to the area of interest at 1.4200. I’m gonna go for a conservative pullback entry right there. I’ve got a pretty wide stop below the 61.8% Fib and below the halfway mark of the range around the 1.4000 major psychological level. As for my profit target, I’m setting my sights on the next long-term ceiling near the 1.4900 mark. Long EUR/CAD at market (1.4325) and at 1.4225 for 0.25% risk per position, stop loss at 1.3975 and profit target at 1.4875 for a potential 2:1 return-on-risk. don’t risk more than 1% of your account on a single trade.