Technical analysis:
USD/CAD is expected to trade with bearish bias next week. Bearish pinbar formed as double top from the 20.1.2017
Trend line from January last year holding as resistance, we have already resistance trend line from the 25.5.2016
Zoomed chart (H4) showing broken trend line with H4 bearish outside bar. If we zoomed a little bit more (H1) there is a strong hidden
MACD (Moving Average Convergence Divergence) divergence, H1 trend line is already broken with bearish pinbar.
Looking for bearish opportunity from the RN (round number) 1.34000 left eye of D1 pinbar & retest of H4 / H1 broken trend line
with a stops some pips above D1 pinbar 1.3445 (45 pips). First potential target area is 0.50% fibonacci retracement from the
swing low 1.29673 and already demand zone 1.32000 (200 pips). Reward to risk is calculated as 4.4:1.0
Fundamental analysis:
Be careful this week expected a lot of volatile on the market
-Wednesday,Mar 08 Housing Starts s.a (YoY)(Feb) 14:15 GMT+1
-Thursday,Mar 09 New Housing Price Index (YoY)(Jan) 14:30 GMT+1
-Thursday,Mar 09 New Housing Price Index (MoM))Jan) 14:30 GMT+1
The most important
-Friday,Mar 10 Nonfarm Payrolls 14:30 GMT+1 (Forecast 190K jobs)
Last month United States employed much more people then expected, forecast was 175K jobs but acual was 227K jobs.
This month we expected 172K jobs, forecast for this month is 190K. Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry.
Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
Performed by
analytical expert: Urban Stamcar
USD/CAD is expected to trade with bearish bias next week. Bearish pinbar formed as double top from the 20.1.2017
Trend line from January last year holding as resistance, we have already resistance trend line from the 25.5.2016
Zoomed chart (H4) showing broken trend line with H4 bearish outside bar. If we zoomed a little bit more (H1) there is a strong hidden
MACD (Moving Average Convergence Divergence) divergence, H1 trend line is already broken with bearish pinbar.
Looking for bearish opportunity from the RN (round number) 1.34000 left eye of D1 pinbar & retest of H4 / H1 broken trend line
with a stops some pips above D1 pinbar 1.3445 (45 pips). First potential target area is 0.50% fibonacci retracement from the
swing low 1.29673 and already demand zone 1.32000 (200 pips). Reward to risk is calculated as 4.4:1.0
Fundamental analysis:
Be careful this week expected a lot of volatile on the market
-Wednesday,Mar 08 Housing Starts s.a (YoY)(Feb) 14:15 GMT+1
-Thursday,Mar 09 New Housing Price Index (YoY)(Jan) 14:30 GMT+1
-Thursday,Mar 09 New Housing Price Index (MoM))Jan) 14:30 GMT+1
The most important
-Friday,Mar 10 Nonfarm Payrolls 14:30 GMT+1 (Forecast 190K jobs)
Last month United States employed much more people then expected, forecast was 175K jobs but acual was 227K jobs.
This month we expected 172K jobs, forecast for this month is 190K. Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry.
Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
Performed by
analytical expert: Urban Stamcar