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USD/CAD Signal - USD Consumer Confidence - 27 Apr 2021

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Signal Details
Entry Price: 
1.2402
Take Profit: 
1.2470
Stop Loss: 
1.23580
Direction: 
Buy
How we trade
Average: 5 (1 vote)

USDCAD has found support prior to the USD Consumer confidence data, which measures the confidence of consumers in the US economic health. Technically the pair is trading in a descending wedge pattern and is at support, both being bullish indications. The PPO has also given a bullish cross signal, and we anticipate upside into the 1.2470 level.

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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.