The USDCAD currency pair has recently exhibited a noticeable five-wave impulsive upward movement. This analysis suggests that wave 5 of this impulsive move has concluded at the level of 1.3791 . Consequently, I'm anticipating a corrective ABC wave pattern to the downside.
At present, my analysis indicates the potential for the support level at 1.36892 to be...
Macro Monday 14
US Employment Rate Pre-Recession Indications
The Unemployment Rate tells us how many people in the United States are currently without a job and actively looking for one. The U.S. Bureau of Labor Statistics calculates and reports the unemployment rate. In basic terms it consists of the following;
Survey: The Bureau of Labor Statistics...
The Canadian dollar is flat on Friday, trading at 1.3258 in the European session.
Canada releases GDP for May later on Friday. The consensus stands at 0.2% m/m, which translates into 2.4% annualized, a respectable gain. If the GDP report beats the consensus, the Canadian dollar could post gains.
Canada's economy showed strength in the first quarter, with a gain...
After falling 3% since March 24th, USDCAD found a bottom on Tuesday and has since built on a 30min uptrend line.
Client position indicates 59% Long vs 41% Short interest, with total trades heavily skewed in favour of the longs, representing 80% off open lots. Since this recent bounce started, both sides average return turned negative with shorts dropping to...
KOG Report – NFP
This is our view for NFP today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.
We’re...
Hey Traders, in this week we are monitoring AUDCAD for a long term selling opportunity around 0.91200 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
After three losing sessions, the Australian dollar has steadied. AUD/USD is currently trading at 0.7305, up 0.17% on the day. In the Asian session, the Aussie dropped to 0.7277, its lowest level in a month.
The Australian dollar didn't get any help from the October employment report, which was showed total employment declining and the unemployment rate rising....
Stellar jobs report
The U.S. Bureau of Labour Statistics (BLS) delivered an optimistic tone when it announced that 531,000 jobs were created for the month of October. Adding a cherry on top of the cake, the number of jobs for August and September have been revised upwards by 117,000 and 118,000 respectively. Overall, a total of 766,000 jobs have been added to the...
The Canadian dollar is in positive territory in the Friday session. Currently, USD/CAD is trading at 1.2619, down 0.34% on the day. Earlier in the day, the pair moved into 1.25-territory.
It has been a busy week for the Canadian dollar, which started the week with strong losses but has partially recovered. The upward swing could continue on Friday, as Canada's...
