News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/xqbUxwWgTZ
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/FFmRYyx4ou
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/r7aJb4qpqc
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/fIGDaDW21V
  • ...even more incredible is net speculative futures positioning in $EURUSD, rounding off from a record net long position...and it hasn't even cleared 1.20... https://t.co/SfyYTMTT1x
  • Net speculative futures positioning in the Dollar (here overlaid with the $DXY) has pushed to extreme levels commensurate to the levels in Oct 2017 and April 2018 https://t.co/JqHGgVUCqc
  • The $SPX closed below the 50-day moving average Friday. The first time it has done so in 103 trading days. The 'technical' end of an exceptional run: https://t.co/HUn5Q6JmlK
  • Despite recent weakness in the #SP500, the growth-linked New Zealand Dollar has been gaining momentum ahead of the #RBNZ next week Could this trend continue, or will $NZDUSD capitulate to the mercy of risk trends? Check out my fundamental outlook - https://www.dailyfx.com/forex/fundamental/forecast/weekly/nzd/2020/09/19/New-Zealand-Dollar-Outlook-NZDUSD-May-Rise-on-RBNZ-Watch-SP-500.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/34vcR4fjpT
  • RT @FxWestwater: #Copper rose to a fresh multi-year high as Chinese demand and supply-side issues continue to support price action amid a l…
The USD/CAD Reacts to Employment Data

The USD/CAD Reacts to Employment Data

2015-12-04 15:00:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The USD/CAD is trading higher on employment data
  • NFP beat expectations at +211k
  • Bullish breakouts begin over 1.3425

USDCAD 30 Minute Chart

The USD/CAD Reacts to Employment Data

(Created using TradingView Charts)

Losing Money Trading Forex? This Might Be Why.

The USD/CAD is trading higher this morning after US NFP (Non-Farm Payroll) employment figures came in slightly higher than expectations. Expectations for NFP were set at 200k, while the actual figure was released at +211k. NFP initially boosted the USD/CAD, but the move was also perpetuated by dismal CAD employment figures. CAD Net Change in Employment figures were released at -35k, which was considerably worse than the expected -10k.

Currently the USD/CAD is attempting to breakout out above today’s R4 pivot point, which is found at a price of 1.3425. To close the week over this point would be significant, as it would be considered the first bullish breakout of the week. Traders looking for a trend continuation should also monitor sentiment for the pair. Currently, SSI data is showing the USD/CAD at an extreme -2.6. These figures when taken as a contrarian signal, may suggest that a bullish trend is set to continue as traders attempt to pick a top in price.

In the event of a reversal, traders will look for price action to move back inside of today’s trading range which begins at the S3 pivot point. A move back to this point, at a price of 1.3403, would suggest at least a short-term change in the current bullish market conditions. In this scenario, traders may begin watching for the USD/CAD to return back towards values of support including the S3 pivot point at 1.3358.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Risk management is an important aspect of any trading strategy. Learn about the traders' number one mistake with the Traits of Successful Traders e-Guide. Read page 3 of the Traits of Successful Traders Guide to find out more [free registration required].

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES