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USD/CAD Signal - USD FOMC Minutes - 7 Jul 2021

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Signal Details
Entry Price: 
1.2465
Take Profit: 
1.2395
Stop Loss: 
1.2520
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD has bounced out off resistance prior to the FOMC Minutes, which reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. Technically the pair has bounced out of resistance forming a double top, and the RSI has given a sell signal. We anticipate downside into the 1.2395 level.

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.