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USD/CAD Signal - USD Durable Goods Orders - 25 Feb 2021

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Signal Details
Entry Price: 
1.2515
Take Profit: 
1.2450
Stop Loss: 
1.2600
Direction: 
Sell
How we trade
Average: 5 (3 votes)

USDCAD is trending to the downside today prior to the USD Durable Goods data, which measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances. Technically the moving average ribbon is bearish & price is trading below all averages. We anticipate continued downside into the 1.2450 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.