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USD/CAD Signal - USD Continuing Jobless Claims - 8 Apr 2021

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Signal Details
Entry Price: 
1.2621
Take Profit: 
1.2565
Stop Loss: 
1.2660
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD is finding resistance at the 1.26290 level today prior to the USD Continuing Jobless Claims data. The data shows the people filing for unemployment benefits domestically on an ongoing basis. Technically the pair is at the key resistance level, and the 1h PPO has given a bearish cross, indicating potential downside. We anticipate a movement into the 1.25650 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.