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USD/CAD Signal - OPEC Meeting - 1 Jul 2021

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Signal Details
Entry Price: 
1.2406
Take Profit: 
1.2300
Stop Loss: 
1.2450
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD is at resistance prior to the OPEC meeting, which will decide the Oil output for the future. Technically the major forex pair is at trendline resistance and is forming a wedge pattern. We anticipate continued downside into 1.2300.

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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.