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USD/CAD Signal - USD Consumer Price Index - 13 Jan 2021

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Signal Details
Entry Price: 
1.2715
Take Profit: 
1.2655
Stop Loss: 
1.2790
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD is trending to the downside today, having broker the counter-trendline prior to the USD Consumer Price Index data. The CPI is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Technically the pair is below the moving averages, and we anticipate continued downside into the 1.2655 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.