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USD/CAD Signal - USD Retail Sales - 15 Jan 2021

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Signal Details
Entry Price: 
1.2641
Take Profit: 
1.2573
Stop Loss: 
1.2697
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD is trending to the downside prior to the USD Retail Sales data release. The data measures the total receipts of retail stores. Technically the pair is trading below the moving averages and is holding below the 1.2663 pivot. We anticipate continued downside into the 1.2573 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.