USD/CAD Signal - USD ISM Manufacturing PMI - 1 Feb 2021

Signal Details

Entry Price:

1.2772

Take Profit:

1.2705

Stop Loss:

1.2820

Direction:

Sell

How we trade

USDCAD is trending to the downside today prior to the USD ISM Manufacturing Data. The data shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. Technically the pair is below the moving averages and we anticipate a break of the support trendline followed by a move into the 1.2705 level.

Submitted by Toni H. on Mon, 01 Feb 2021 08:24:35 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.

USD/CAD Signal - USD ISM Manufacturing PMI - 1 Feb 2021

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