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USD/CAD Signal - USD Stimulus Plan - 14 Dec 2020

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Signal Details
Entry Price: 
1.27689
Take Profit: 
1.2673
Stop Loss: 
1.2832
Direction: 
Sell
Result: 
Loss
How we trade
Average: 5 (2 votes)

USDCAD has been trending to the downside throughout last week, and has given a pullback/retracement on the back of US Stimulus plan talks. Whilst a stimulus would typically be positive for the USD, it is questionable whether the plan will be agreed to prior to Christmas break. Technically the pair is trading below the 50 moving average and the trendline, and we anticipate further downside into the 1.2673 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.