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USD/CAD Signal - CAD BOC Rate Decision - 8 Sep 2021

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Signal Details
Entry Price: 
1.2642
Take Profit: 
1.2580
Stop Loss: 
1.2680
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD has traded into resistance prior to the CAD Bank Of Canada rate decision, which decides whether to increase / decrease / hold interest rates. Technically the pair is at a resistance pivot, and the RSI is giving a bearish signal. We are looking for downside to support.

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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.