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USD/CAD Signal - USD Retail Sales - 16 Jul 2021

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Signal Details
Entry Price: 
1.2580
Take Profit: 
1.2500
Stop Loss: 
1.266
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDCAD has bounced from resistance today prior to the USD Retail sales data, which measures the total receipts for retail stores domestically. Technically the pair has bounced from resistance, and the RSI has turned bearish. We anticipate continued downside into the 1.250 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.