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USD/CAD Signal - USD Retail Sales - 14 May 2021

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Signal Details
Entry Price: 
1.2168
Take Profit: 
1.2070
Stop Loss: 
1.2214
Direction: 
Buy
How we trade
Average: 5 (1 vote)

USDCAD is trending to the downside at the moment prior to the USD Retail Sales data, which measures the receipts for retail stores domestically. Technically the pair has held below the 1.22 level, and is at trendline resistance. The PPO has also given a bearish cross signal, and we anticipate continued downside into the 1.2070 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.