USDCAD_Fundamental_Technical_01042019Weekly
Technical
MACD is below zero level, indicates staring of a bearish trend
RSI confusing as it is below 40 level indicating market a bit oversold which is conflicting to MACD
Price is trending through an ascending channel in the weekly lookout.
Given the fundamental factors drive price upwards, It might break above level 1.134450 and head towards the next resistance level of 1.136500
If fundamental Factors drive price down, it might go to touch the lower line of ascending channel in the 1.13200 Zone.
US Dollar Fundamentals
PMI is leading the indicator of economic health. It has the direct connection with economic condition. This composite(PMI) data is clearing the top level business institute health. If business institute is doing well then the economic health will get better. If PMI (COMPOSITE) percentage is better than expectation, currency will go for bullish movement. If it is not, then currency will do the opposite.
The Retail Sales shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence. It shows the performance of the retail sector in the short term. Generally speaking, the positive economic growth anticipates bullish movements for the currency. The release of the Retail Sales report may have an impact on dollar quotes. A slowdown in the growth of retail sales shows that consumers have reduced their spending level. This may lead to a decline in economic activity and have a negative effect on dollar quotes
NFP is one of the most important US economic indicators, which is used in the evaluation of the country's economic health. It is often considered an indicator tending to move the market. Non-farm payrolls cover about 80% of employees producing the entire GDP of the United States.
Indicator growth suggests that more consumers will earn money, which means that both consumption and consumer spending will grow. This stimulates economic growth.
The release of this report usually increases volatility in foreign exchange markets. Indicator growth is seen as positive for dollar quotes.
This week is also filled with speeches which might drive the price in north or south.
CA Dollar
CANADA has employment Change and unemployment change.it is good for the currency to have better actual data than expected.
MACD is below zero level, indicates staring of a bearish trend
RSI confusing as it is below 40 level indicating market a bit oversold which is conflicting to MACD
Price is trending through an ascending channel in the weekly lookout.
Given the fundamental factors drive price upwards, It might break above level 1.134450 and head towards the next resistance level of 1.136500
If fundamental Factors drive price down, it might go to touch the lower line of ascending channel in the 1.13200 Zone.
US Dollar Fundamentals
PMI is leading the indicator of economic health. It has the direct connection with economic condition. This composite(PMI) data is clearing the top level business institute health. If business institute is doing well then the economic health will get better. If PMI (COMPOSITE) percentage is better than expectation, currency will go for bullish movement. If it is not, then currency will do the opposite.
The Retail Sales shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence. It shows the performance of the retail sector in the short term. Generally speaking, the positive economic growth anticipates bullish movements for the currency. The release of the Retail Sales report may have an impact on dollar quotes. A slowdown in the growth of retail sales shows that consumers have reduced their spending level. This may lead to a decline in economic activity and have a negative effect on dollar quotes
NFP is one of the most important US economic indicators, which is used in the evaluation of the country's economic health. It is often considered an indicator tending to move the market. Non-farm payrolls cover about 80% of employees producing the entire GDP of the United States.
Indicator growth suggests that more consumers will earn money, which means that both consumption and consumer spending will grow. This stimulates economic growth.
The release of this report usually increases volatility in foreign exchange markets. Indicator growth is seen as positive for dollar quotes.
This week is also filled with speeches which might drive the price in north or south.
CA Dollar
CANADA has employment Change and unemployment change.it is good for the currency to have better actual data than expected.
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