USDCAD FOREX 1H TIME FRAME DATE 7/28/2024
Sentiment Analysis – July 27, 2024
Intra-Day Sentiment: 41% Bearish, 59% Bullish
Daily Sentiment: 32% Bearish, 68% Bullish
Overall Outlook: Favorable to Buy
Economic Calendar and Trade Recommendations
Monday, July 29, 2024
04:30 PM (US): Dallas Fed Manufacturing Index
Forecast: 53.00 points for the quarter
Impact: Bullish for the US Dollar
Tuesday, July 30, 2024
02:15 PM (US): ADP Employment Change (July)
Forecast: Unemployment Rate expected to be 4.00% by the end of the quarter
Trade Recommendation: Buy USDCAD
04:00 PM (US): JOLTs Job Openings (June)
Impact: Expected increase in unemployment to 4.10%
Trade Recommendation: Buy USDCAD
Wednesday, July 31, 2024
02:30 PM (CA): GDP MoM (May)
Forecast: 0.20% growth
Trade Recommendation: Buy USDCAD
03:45 PM (US): Chicago PMI (July)
Forecast: 45.00 points
Trade Recommendation: Sell USDCAD
04:00 PM (US): Pending Home Sales MoM
Forecast: 4300.00 Thousand
Trade Recommendation: Sell USDCAD
08:00 PM (US): Fed Interest Rate Decision
Forecast: 5.50%
Trade Recommendation: Buy USDCAD
Thursday, August 01, 2024
02:30 PM (US): Initial Jobless Claims
Forecast: Unemployment Rate expected to be 4.00%
Trade Recommendation: Sell USDCAD
03:45 PM (US): S&P Global Manufacturing PMI Final
Forecast: 53.00 points
Trade Recommendation: Buy USDCAD
04:00 PM (US): ISM Manufacturing PMI
Forecast: 53.00 points
Trade Recommendation: Buy USDCAD
Friday, August 02, 2024
02:30 PM (US): Non-Farm Payrolls
Forecast: 130.00 Thousand
Trade Recommendation: Sell USDCAD
Summary:
The overall sentiment and economic indicators suggest a mixed short-term outlook for USDCAD, with certain periods favoring buying and others indicating potential selling opportunities. Close attention to upcoming economic releases and market reactions is advised for optimal positioning
Intra-Day Sentiment: 41% Bearish, 59% Bullish
Daily Sentiment: 32% Bearish, 68% Bullish
Overall Outlook: Favorable to Buy
Economic Calendar and Trade Recommendations
Monday, July 29, 2024
04:30 PM (US): Dallas Fed Manufacturing Index
Forecast: 53.00 points for the quarter
Impact: Bullish for the US Dollar
Tuesday, July 30, 2024
02:15 PM (US): ADP Employment Change (July)
Forecast: Unemployment Rate expected to be 4.00% by the end of the quarter
Trade Recommendation: Buy USDCAD
04:00 PM (US): JOLTs Job Openings (June)
Impact: Expected increase in unemployment to 4.10%
Trade Recommendation: Buy USDCAD
Wednesday, July 31, 2024
02:30 PM (CA): GDP MoM (May)
Forecast: 0.20% growth
Trade Recommendation: Buy USDCAD
03:45 PM (US): Chicago PMI (July)
Forecast: 45.00 points
Trade Recommendation: Sell USDCAD
04:00 PM (US): Pending Home Sales MoM
Forecast: 4300.00 Thousand
Trade Recommendation: Sell USDCAD
08:00 PM (US): Fed Interest Rate Decision
Forecast: 5.50%
Trade Recommendation: Buy USDCAD
Thursday, August 01, 2024
02:30 PM (US): Initial Jobless Claims
Forecast: Unemployment Rate expected to be 4.00%
Trade Recommendation: Sell USDCAD
03:45 PM (US): S&P Global Manufacturing PMI Final
Forecast: 53.00 points
Trade Recommendation: Buy USDCAD
04:00 PM (US): ISM Manufacturing PMI
Forecast: 53.00 points
Trade Recommendation: Buy USDCAD
Friday, August 02, 2024
02:30 PM (US): Non-Farm Payrolls
Forecast: 130.00 Thousand
Trade Recommendation: Sell USDCAD
Summary:
The overall sentiment and economic indicators suggest a mixed short-term outlook for USDCAD, with certain periods favoring buying and others indicating potential selling opportunities. Close attention to upcoming economic releases and market reactions is advised for optimal positioning
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