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USD/CAD Signal - USD President Biden Speech - 12 Mar 2021

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Signal Details
Entry Price: 
1.2529
Take Profit: 
1.2460
Stop Loss: 
1.2580
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD is trending to the downside prior to President Biden's speech today, which may include focus on the 1.9T dollar stimulus plan. Technically the pair is below the moving average ribbon and the 1.6 pivot, and we anticipate the downside to continue into the 1.2460 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.