PaxForex

EURCAD Fundamental Analysis – October 11th 2019

FX:EURCAD   Euro / Canadian Dollar
Here are the key factors to keep in mind today for Euro trades:

Final German CPI: The Final German CPI for September was reported flat at 0.0% monthly and increased by 1.2% annualized. Economists predicted a flat reading of 0.0% and an increase of 1.2%. Forex traders can compare this to the German CPI for August which decreased by 0.2% monthly and which increased by 1.2% annualized. The Final EU Harmonized German CPI for September decreased by 0.1% monthly and increased by 0.9% annualized. Economists predicted a decrease of 0.1% and an increase of 0.9%. Forex traders can compare this to the EU Harmonized German CPI for August which decreased by 0.1% monthly and which increased by 0.9% annualized.
Final Spanish CPI: The Final Spanish CPI for September was reported flat at 0.0% monthly and increased by 0.1% annualized. Economists predicted a flat reading of 0.0% and an increase of 0.1%. Forex traders can compare this to the Spanish CPI for August which decreased by 0.1% monthly and which increased by 0.1% annualized. The Final EU Harmonized Spanish CPI for September increased by 0.4% monthly and by 0.2% annualized. Economists predicted an increase of 0.4% and of 0.2%. Forex traders can compare this to the EU Harmonized Spanish CPI for August which increased by 0.4% monthly and by 0.2% annualized.
Here is the key factor to keep in mind today for Canadian Dollar trades:

Canadian Employment Report: The Canadian Employment Report for September is predicted to show the addition of 7.9K jobs and an Unemployment Rate of 5.7%. Forex traders can compare this to the Canadian Employment Report for August which showed the addition of 81.1K jobs and an Unemployment Rate of 5.7%. Hourly Earnings for Permanent Employees for September are predicted to increase by 3.8% annualized. Forex traders can compare this to Hourly Earnings for Permanent Employees for August which increased by 3.8% annualized. 21.7K Full-Time Positions are expected to have been created and 10.0K Part-Time Positions lost in September. Forex traders can compare this to the creation of 23.8K Full-Time Positions and 57.2K Part-Time Positions which were reported in August. The Labor Force Participation Rate for September is expected at 65.7%. Forex traders can compare this to the Labor Force Participation Rate for August which was reported at 65.8%.
Should price action for the EURCAD remain inside the or breakdown below the 1.4585 to 1.4650 zone the following trade set-up is recommended:

Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 1.4610
Take Profit Zone: 1.4415 – 1.4470
Stop Loss Level: 1.4690
Should price action for the EURCAD breakout above 1.4650 the following trade set-up is recommended:

Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 1.4690
Take Profit Zone: 1.4860 – 1.4930
Stop Loss Level: 1.4650
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Comments

How are you supposed to nail down a good entry when you’re looking at fundamentals?
Reply
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