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USD/CAD Signal - US API Weekly Crude Oil Stock-23 August 2022

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Signal Details
Entry Price: 
1.30207
Take Profit: 
1.27038
Stop Loss: 
1.31104
Direction: 
Sell
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USD/CAD is trading to the upside today prior to the US API Weekly Crude Oil Stock. Price has reached a resistance zone and has retraced upon reaching it. Technically price has presented a head and shoulder pattern which is a reversal pattern acting as confluence for a bearish move. We anticipate a bearish move down to level 1.27038

Submitted by John F. on Tue, 23 Aug 2022 11:18:03 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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