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USD/CAD Signal - USD 3 Month Bill Auction - 22 Nov 2021

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Signal Details
Entry Price: 
1.2640
Take Profit: 
1.2500
Stop Loss: 
1.2688
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD has traded into resistance today prior to the USD 3 Month bill auction which reveals the yield on the US Government backed security. Technically the pair has traded to the upside in an ascending wedge pattern, and is now finding resistance at the long term 61.8% fibonacci level. We anticipate a rebound from this level down to previous support.

Submitted by Toni H. on Mon, 22 Nov 2021 04:47:15 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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