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USD/CAD Signal - CAD Markit Manufacturing PMI - 3 Aug 2021

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Signal Details
Entry Price: 
1.2494
Take Profit: 
1.2376
Stop Loss: 
1.2560
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD is trending to the downside prior to the CAD Markit Manufacturing PMI, which is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 industrial companies. Technically the pair is bouncing out of trendline resistance, and looks set to continue downside.

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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.