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Weekly analysis for USD/CAD
Week: 08-12.03.2021
Key event: CAD. Interest Rate
Interest rate at which major financial institutions borrow and lend overnight funds between themselves;
We expect a similar reading than the previous month.
Bearish/Neutral
Price is reacting to old demand levels. Price closed last week with a bearish pin bar. We see both bullish and bearish signals.
Call to Action/Trade Idea
We will look to sell near resistance after a confirmation signal. We will look to buy near supports after a confirmation pattern. Only a surprise on data release could lead to a break of the key support.
If you want to see more ideas check out our page: https://the5ers.com/trading-ideas/
Week: 08-12.03.2021
Key event: CAD. Interest Rate
Interest rate at which major financial institutions borrow and lend overnight funds between themselves;
We expect a similar reading than the previous month.
We see a slowing momentum on the actual trend. A negative surprising data value could reverse actual trend direction.
Key Levels:
- Resistance 1.3000
- Support 1.2500
Bearish/Neutral
Price is reacting to old demand levels. Price closed last week with a bearish pin bar. We see both bullish and bearish signals.
Call to Action/Trade Idea
We will look to sell near resistance after a confirmation signal. We will look to buy near supports after a confirmation pattern. Only a surprise on data release could lead to a break of the key support.
If you want to see more ideas check out our page: https://the5ers.com/trading-ideas/
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Weekly trade Idea on USD/CHF
We expect a similar reading to the previous month.
Price has surged and forming HH and HL, which could be the start of a new uptrend. It has formed new demand levels visible on lower Time Frames.
Week: 15-19.03.2021
Key event: USD. Interest Rate Decision
A rate hike tends to boost the local currency, as it is understood as a sign of a healthy inflation. A rate cut, on the other hand, is seen as a sign of economic and inflationary woes and, therefore, tends to weaken the local currency. If rates remain unchanged, attention turns to the tone of the FOMC statement, and whether the tone is hawkish, or dovish over future developments of inflation.**We expect a similar reading to the previous month.
Until release day, we expect a continuation of the actual trend. A surprising data value could reverse the actual trend direction.
Key Levels:
- Resistance 0.9460**
- Support 0.9200, 0.9090, 0.9020**
Trend USD/CHF:
BullishPrice has surged and forming HH and HL, which could be the start of a new uptrend. It has formed new demand levels visible on lower Time Frames.
Call to Action/Trade Idea
We will look to buy near supports and demand zones, with targets on resistance 0.9460.
Weekly trade idea for EUR/USD
Week: 22-26.03.2021
During this week, there will be three speeches. On Monday, Tuesday and Wednesday.
These speeches tend to increase the volatility in the markets and may cause a breakout of key levels in price.
Price is ranging between 1.1989 and 1.1840. Last week, the price closed with a false breakout down.
Week: 22-26.03.2021
Key event: USD. Fed´s Chair Powell testifies
Federal Reserve Chair Jerome Powell testifies before Congress, providing a broad overview of the economy and monetary policy.During this week, there will be three speeches. On Monday, Tuesday and Wednesday.
These speeches tend to increase the volatility in the markets and may cause a breakout of key levels in price.Key Levels:
- Resistance 1.1989, 1.2180
- Support 1.18400, 1.1755
Trend EUR/USD:
NeutralPrice is ranging between 1.1989 and 1.1840. Last week, the price closed with a false breakout down.
Call to Action/Trade Idea
We will look to trade the breakout of the actual range, very likely near or during one of the speeches.
Weekly trade Idea for USD/CAD
Week: 5-9.04.2021
Key event: CAD. Employment Rate
Measure of the change in the number of employed people in Canada. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive, or bullish for the CAD, while a low reading is seen as negative or bearish.
We expect a significantly lower reading than the previous month.
Until release day, we can expect a weakening of the Canadian dollar against other currencies. On Friday (releasing day), a surprising value could affect actual trends and cause possible breakouts of key levels.
Bearish
Price has been respecting a down channel, reacting to horizontal and diagonal resistance. This scenario may change with fundamental announcements.
Call to Action/Trade Idea
Until Friday we will look for buying opportunities near support. A breakout of the bearish channel will provide us opportunities to buy on retracements.
Week: 5-9.04.2021
Key event: CAD. Employment Rate
Measure of the change in the number of employed people in Canada. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive, or bullish for the CAD, while a low reading is seen as negative or bearish.
We expect a significantly lower reading than the previous month.
Until release day, we can expect a weakening of the Canadian dollar against other currencies. On Friday (releasing day), a surprising value could affect actual trends and cause possible breakouts of key levels.Key Levels:
- Resistance 1.2630, 1.2750, 1.2900
- Support 1.2400, 1.2250
Bearish
Price has been respecting a down channel, reacting to horizontal and diagonal resistance. This scenario may change with fundamental announcements.
Call to Action/Trade Idea
Until Friday we will look for buying opportunities near support. A breakout of the bearish channel will provide us opportunities to buy on retracements.
Weekly trade idea on NZD/USD
Week: 12-16.04.2021
Key event: NZD. Interest Rate Decision
RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.We expect a similar reading to the previous lecture.
We do not expect this announcement to be relevant for the behavior of the NZD against other currencies during the week. More likely the technicals will be predominant. Only a very unexpected final data would affect the price action.Key Levels:
- Resistance 0.7100, 0.7000, 0.7450
- Support 0.6800
Trend NZD/USD:
Bearish/NeutralPrice broke down two weeks ago the 0.7100 support level, turning it into key resistance. Price has formed a lower low; now a lower high would confirm a trend reversal.
Call to Action/Trade Idea
We will look to sell near resistance levels. The previous support levels are now important resistances.
Weekly trade idea on USD/CAD
Week: 19-23.04.2021
Key event: CAD. Interest Rate
Interest rate at which major financial institutions borrow and lend overnight funds between themselves;We expect a similar reading than the previous month.
Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse actual trend direction.
Key Levels:
- Resistance 1.2630, 1.2750, 1.2900
- Support 1.2400, 1.2255
Trend USD/CAD
BearishPrice has been respecting a down channel, reacting to horizontal and diagonal resistance. This scenario may change with fundamental announcements.
Call to Action/Trade Idea
We will look for buying opportunities near support. A breakout of the bearish channel will provide us opportunities to buy on retracements.
Weekly trade idea on EUR/USD.
Week: 26-30.04.2021
Key event: USD. Interest Rate
Interest rate at which major financial institutions borrow and lend overnight funds between themselves;We expect a similar reading to the previous month.
Until release day, we expect a continuation of the actual trend. A positive or negative surprising data value could affect the actual trend direction.Key Levels:
- Resistance 1.2150, 1.2300
- Support 1.1990, 1.1850, 1.1700
Trend EUR/USD
BullishPrice has recovered aggressively to the upside. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2250 / 1.2300.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Any retracement or pullback to support levels. Only an unexpected important release might overturn the actual trend.
Weekly trade idea on EUR/USD.
Week: 10-14.05.2021
Key event: USD. Retail Sales
The retail Sales measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes in such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive for the USD, while a low reading is seen as negative.We expect a lower reading than the previous month.
Until release day, we expect a continuation of the actual US weakening trend against most major pairs. We do not expect a surprising positive data release that could reverse the actual trend direction.
Key Levels EUR/USD:
- Resistance 1.2170, 1.2350
- Support 1.1990, 1.1850, 1.1700
Trend EUR/USD
BullishPrice has recovered aggressively to the upside. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2250/1.2300.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important release might overturn the actual trend.
Weekly trade idea on EUR/USD.
Week: 24-28.05.2021Key event: USD. Gross Domestic Product Annualized
The Gross Domestic Product Annualized shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized indicates the pace at which a country’s economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.
We expect a similar reading to the previous month.
This release should not affect the USD behavior during the week. Technical key levels will be more relevant. We expect a continuation of the actual US weakening trend against most major pairs. We do not expect a surprising positive data release that could reverse the actual trend direction.
Key Levels EUR/USD:
- Resistance 1.2250, 1.2350
- Support 1.2170, 1.2050, 1.2000
Bullish
Price has recovered aggressively to the upside, forming HH and HL. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2300.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend on supports. Any retracement or pullback. Only an unexpected important release might overturn the actual trend.
Commodities Behind the Scenes - Understand the price movement in the mid-term and long-term view.
Ruben Abitbol overviews different commodities by explaining what factors can affect the commodities market and what strategy could be used to trade them. The commodities markets stand right now, what can we expect in the future, and a case study during the pandemic covid - Oil and Gold.
Ruben Abitbol overviews different commodities by explaining what factors can affect the commodities market and what strategy could be used to trade them. The commodities markets stand right now, what can we expect in the future, and a case study during the pandemic covid - Oil and Gold.
Patience Pays Strategy - Wait patiently for this setup, and the forex market will pay you accordingly.
The best traders know that patience is a virtue. This webinar will discuss a specific setup, which gives the trader all the tools to become consistently successful if only the trader is patient enough to wait for it.
The best traders know that patience is a virtue. This webinar will discuss a specific setup, which gives the trader all the tools to become consistently successful if only the trader is patient enough to wait for it.
The Difference Between Quasimodo and Head & Shoulders
Two of the most reliable and powerful reversal pattern is Quasimodo and Head & Shoulders, but many traders confuse between them.
In this video, we explain the difference between Between Quasimodo and Head & Shoulders.
Two of the most reliable and powerful reversal pattern is Quasimodo and Head & Shoulders, but many traders confuse between them.
In this video, we explain the difference between Between Quasimodo and Head & Shoulders.
Learn how to become an algorithmic trader without knowing anything about programming.
Learn how to become an algorithmic trader without knowing anything about programming. With the correct tools, you will be able to generate a diversified portfolio of trading systems that are 100% automated.
Learn how to become an algorithmic trader without knowing anything about programming. With the correct tools, you will be able to generate a diversified portfolio of trading systems that are 100% automated.
Trading The Non-Farm Payrolls (NFP)
All forex traders have heard the term NFP.
In this guide, we will dig deep into the NFP and how it makes the forex market move.
What is NFP?
The non-farm payroll (NFP) is a key figure released by the US Department of Labor that presents the number of new jobs created during the previous month. These jobs are associated with all non-agricultural businesses in the United States, and It is always released on the first Friday of every month.
The goal of the NFP report is to illustrate how much new employment was generated in the previous month, excluding seasonal jobs such as farming. This presents us with a number that can easily be compared month to month to understand the US economy’s status better.
How Does The NFP Affect Forex?
The NFP report is a significant indicator of the condition of the US economy. It's because jobs are the most important of every economy, and more job creation means a healthy and strong economy.
When jobs are created, it makes employers raise salaries, giving employees more money to spend. This boosts both GDP and inflation.
As a result, the NFP report is closely examined, particularly in forex markets, because the degree of job creation is directly related to interest rates. Interest rates are expected to rise if the labor market and the economy are both strong.
For these reasons, we frequently witness big changes in currency markets following the release of the NFP report.
Which Currency Pairs Are Most Influenced by The NFP?
Because the NFP data is a predictor of American employment in forex trading. The data release has the greatest impact on currency pairs, including the US Dollar, such as the EUR/USD, GBP/USD, or USD/JPY.
For the full article, click here.
All forex traders have heard the term NFP.
In this guide, we will dig deep into the NFP and how it makes the forex market move.
What is NFP?
The non-farm payroll (NFP) is a key figure released by the US Department of Labor that presents the number of new jobs created during the previous month. These jobs are associated with all non-agricultural businesses in the United States, and It is always released on the first Friday of every month.
The goal of the NFP report is to illustrate how much new employment was generated in the previous month, excluding seasonal jobs such as farming. This presents us with a number that can easily be compared month to month to understand the US economy’s status better.
How Does The NFP Affect Forex?
The NFP report is a significant indicator of the condition of the US economy. It's because jobs are the most important of every economy, and more job creation means a healthy and strong economy.
When jobs are created, it makes employers raise salaries, giving employees more money to spend. This boosts both GDP and inflation.
As a result, the NFP report is closely examined, particularly in forex markets, because the degree of job creation is directly related to interest rates. Interest rates are expected to rise if the labor market and the economy are both strong.
For these reasons, we frequently witness big changes in currency markets following the release of the NFP report.
Which Currency Pairs Are Most Influenced by The NFP?
Because the NFP data is a predictor of American employment in forex trading. The data release has the greatest impact on currency pairs, including the US Dollar, such as the EUR/USD, GBP/USD, or USD/JPY.
For the full article, click here.
