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USD/CAD Signal - USD GDP Data - 28 Jan 2021

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Signal Details
Entry Price: 
1.2824
Take Profit: 
1.2885
Stop Loss: 
1.2745
Direction: 
Buy
How we trade
Average: 5 (1 vote)

USDCAD is trending to the upside today prior to the USD GDP Data release. The gross domestic product is a measure of the value of all goods and services produced domestically, and typically a higher reading is bullish and a lower reading is bearish for the local currency. Technically the pair is trading above the moving averages and the 1.2780 pivot, and we anticipate continued upside into the 1.2885 level.

Submitted by Toni H. on Thu, 28 Jan 2021 05:19:10 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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