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U.S Non Farm Payrolls


So we have U.S non farm payrolls coming out on Friday with a forecast of 180k, and previous NFP was 255k. The question is how is the U.S job market performing? We have a lower than expected number forecasted compared to the previous. If the actual number turns out to be worse or better, what impact it will have on USD/CAD?
Looking at USD/CAD pair we can see that the previous 3rd wave was down, and currently formed an elliot wave triangle(trading in the 4th wave), the only hint i can see in this…
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USD/CAD

Monthly Chart

Well technically price is in a channel up pattern......And according to the elliot wave, it looks like we're currently in a 3rd wave.....Targeting 1.4000 by 1st of January 2017.

Daily Chart:

Currently price is have support above 1.3290, as it formed into a inverted head & shoulder pattern....Current price is very bullish above 1.3307 area, as we are above the trendline+ ichimoku cloud.....It is possible for price to continue upto 1.4000 in case FED Reserve Bank of United State
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USD/CAD

Monthly Chart:
Well earlier we had a triple top (head & shoulder pattern) in the USD/CAD, having a neckline around 1.2400 (base support). and a head (resistance) around 1.2834 in the month of March of 2015. As in the month of March the Fed did not hike interest rate or change interest rate from 0.25% to 0.50%. So, we saw slight consolidation and than during CAD interest rate in the month of April we saw the consolidation continue adding a short term supply and short breakout below the 1.2400 are…
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Well on this Friday, we formed a double top around 1.3090, so the price came down around 1.2940 (low on Friday), and than price consolidated back to 1.3090 again due to high demand, as CAD GDP data was bad on Friday around -0.2%, which was less than the forecast :). A break above 1.3100 can lead price toward 1.3150-1.3200.

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USD/CAD

Daily Chart:
Well according to the daily Chart we can see that the trend is currently trading above the teken sen line, and kijunsen line, which means trend is slightly bullish. We can see that we have double top strong resistance around 1.0985. As we also have Cad retail sales today. Which if shows improvement can bring this price down. But if Cad retail Sales fail to show improvement than we'll see USD/CAD to go higher above 1.1000, upto 1.1050 by 1st of October 2014.
Weekly
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ANABEVZ avatar
ANABEVZ 22 8月

Wow!)
Interesting news!

aslamhammad avatar

Well this pair is currently trading around  1.1157, i think the pair is currently overbought, we could probably see next resistance around 1.1200 that could also probably act like a swing point.

aslamhammad avatar

ADP Non Farm employment change about to be released in around 40minutes....USD/CAD currently around 1.1213.

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USD/CAD

Well in my opinion USD/CAD exchange rate will reach 1.0600 by 2nd January for now. However it can go even higher upto 1.0700 depending on fundamental news.
Check out the Pivot points:
Monthly Chart:
Upper bollinger band in monthly chart indicates a high near 1.0700
Weekly Chart:
The trend seems to reject the bearish divergence and seems to now becoming bullish. Good luck
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aslamhammad 19 12月

well after the federal fund rate the usd/cad rose upto 1.0726 a yearly high, today after the federal tamper decision came up, the Unemployment Claims rised to 379K in this week and Existing Home Sales came down to 4.90M, so in my opinion this pair has a monthly resistance near 1.08820 and weekly resistance level shows a resistance near 1.0750. But my expected rate is the same for this pair for now, which is around 1.0600 by 2nd January 2014 :)

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USD/CAD

Well in my view Usd/cad is overbought according to the monthly charts, so it should start going down. So, by November 1st i think we'll be seeing USD/CAD around 1.0152$ as Canadian economy has started to show improvement.Daily Chart:Weekly Chart:
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