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USD/CAD Signal - CAD Consumer Price Index - 19 May 2021

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Signal Details
Entry Price: 
1.2073
Take Profit: 
1.2013
Stop Loss: 
1.211
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD is trending to the downside today prior to the CAD consumer price index, which measures the change in price across a representative basket of goods and services to monitor inflation. Technically the pair has reached 1h pivot levels as resistance, trendline resistance, and the PPO is at overextended levels. We anticipate downside into the 1.2013 level.

Submitted by Toni H. on Wed, 19 May 2021 01:49:03 GMT

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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.

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