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USD/CAD Signal - USD Trade Balance - 3 Sep 2020

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Signal Details
Entry Price: 
1.3067
Take Profit: 
1.3095
Stop Loss: 
1.3030
Direction: 
Buy
How we trade
Average: 5 (1 vote)

USDCAD is trending to the upside amid a wave of USD strength. Price has now broken above the 30m 50 moving average. We anticipate trade balance data to trigger further USD strength. Trade Balance data is a measure of the imports vs export. A positive value shows surplus, whilst a negative value shows deficit. We anticipate upside into 1.3095.

Submitted by Toni H. on Thu, 03 Sep 2020 04:01:35 GMT

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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.

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