USD/CAD Signal - USD Non Farm Payrolls - 4 Dec 2020

Signal Details

Entry Price:

1.2859

Take Profit:

1.2794

Stop Loss:

1.2941

Direction:

Sell

Result:

Profit

How we trade

USDCAD is trending to the downside with momentum today prior to USD NFP later today. NFP presents the number of new jobs created during the previous month, in all non-agricultural business, and the consensus is for there to be 469K jobs added. A negative deviation in this consensus will likely cause the USD to depreciate. Technically the pair is trading well below the 1h moving averages and we anticipate further downside into the 1.2794 level.

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Submitted by Toni H. on Thu, 03 Dec 2020 22:25:09 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 Non Farm Payrolls - 4 Dec 2020

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