Ready for the bears on USD/CAD - 100 pips move in progress
Hello everyone,
I am back and it is time for me to share with you yet another trading plan. This week we take our attention to the USD/CAD and its’ potential to bring us around 100 pips of profit in the short term. The bears are preparing for their move, so do not miss it out.
You can see a full technical analysis video on our Youtube channel.
Join our Telegram if you want to receive Live Signals based on our trading plans and much more.
Below you can find all the zones on the chart in numbers, as well as a fundamental analysis for this week.
Zones:
Weekly Resistance Area: 1.3210 to 1.3345
H4 Previous Top Level: 1.3167
H4 Downtrend Stoppage Area (Target): 1.3072 to 1.3041
Fundamental Analysis:
Wednesday - 5th of September
14:00 GMT (17:00 Bulgarian time)
CAD Bank of Canada Rate Decision
An already priced in report, it is expected for the BoC to keep their rates at 1.5%. I don’t believe we will see a surprise here and due to the already priced in event I expect closing of Buy positions and a wave down.
Thursday - 6th of September
14:00 GMT (17:00 Bulgarian time)
USD ISM Non-Manufacturing/Services PMI
Expected report is a little bit higher than the previous reading with 56.6 to a previous of 55.7. If the forecast is correct we can expect a small boost of the USD, but nothing big. Still remain cautious as we might see a surprise here.
Friday - 7th of September
12:30 GMT (15:30 Bulgarian time)
A lot of reports coming out. It is the first Friday of the month so the USD Unemployment Rate and Non-farm Payrolls will be published. Also to go with them we have the CAD Net Change in Employment and Unemployment Rate.
\u2028Although the new numbers are expected to remain close to the previous readings I would recommend closing parts of your positions before the reports are published in order to protect yourself from the expected volatility and the high possibility of strong trend changes.
Our team wishes you a nice and profitable week! :)
I am back and it is time for me to share with you yet another trading plan. This week we take our attention to the USD/CAD and its’ potential to bring us around 100 pips of profit in the short term. The bears are preparing for their move, so do not miss it out.
You can see a full technical analysis video on our Youtube channel.
Join our Telegram if you want to receive Live Signals based on our trading plans and much more.
Below you can find all the zones on the chart in numbers, as well as a fundamental analysis for this week.
Zones:
Weekly Resistance Area: 1.3210 to 1.3345
H4 Previous Top Level: 1.3167
H4 Downtrend Stoppage Area (Target): 1.3072 to 1.3041
Fundamental Analysis:
Wednesday - 5th of September
14:00 GMT (17:00 Bulgarian time)
CAD Bank of Canada Rate Decision
An already priced in report, it is expected for the BoC to keep their rates at 1.5%. I don’t believe we will see a surprise here and due to the already priced in event I expect closing of Buy positions and a wave down.
Thursday - 6th of September
14:00 GMT (17:00 Bulgarian time)
USD ISM Non-Manufacturing/Services PMI
Expected report is a little bit higher than the previous reading with 56.6 to a previous of 55.7. If the forecast is correct we can expect a small boost of the USD, but nothing big. Still remain cautious as we might see a surprise here.
Friday - 7th of September
12:30 GMT (15:30 Bulgarian time)
A lot of reports coming out. It is the first Friday of the month so the USD Unemployment Rate and Non-farm Payrolls will be published. Also to go with them we have the CAD Net Change in Employment and Unemployment Rate.
\u2028Although the new numbers are expected to remain close to the previous readings I would recommend closing parts of your positions before the reports are published in order to protect yourself from the expected volatility and the high possibility of strong trend changes.
Our team wishes you a nice and profitable week! :)
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