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USD/CAD Signal - CAD Housing Starts - 08 Mar 2021

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Signal Details
Entry Price: 
1.26593
Take Profit: 
1.25850
Stop Loss: 
1.26950
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USD/CAD is trading to the downside today prior to the CAD Housing Starts. The Housing Starts released by the Canadian Mortgage and Housing Corporation captures how many new single-family homes or buildings were constructed. It shows the strength of the Canadian housing market. Technically the pair is trading below the 50 moving average, and we anticipate further downside on the USD/CAD into the 1.25850 level.

Submitted by Toni H. on Mon, 08 Mar 2021 03:59:26 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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