Forex Technical Analysis USDCAD : 03 December 2014

BOC Rate Statement

Today we expect the release of two indicators which can affect significantly the Canadian dollar volatility. In the first place, ADP Non-Farm Employment Change will be published at 14:15 CET, released monthly by Automatic Data Processing. The parameters are based on the study of anonymous data from around 400.000 US business clients, excluding the farming industry and government. The preliminary estimate of employment rate is released two days before the publication of Nonfarm. That is why this indicator is worth a closer look. Employment rate is the key factor influencing the US consumer demand. If the index falls below the expected value, it will almost certainly result in the US currency weakening. Two hours later the Bank of Canada will publish the Rate Statement and cast light upon the economic situation development. We assume that the oil market restructuring and fallen energy prices may lead to the monetary policy revision of the largest exporter in favour of easing.

Here we consider the USDCAD currency pair on the D1 chart. The price is moving in the limits of W1 and D1 bullish trend, containing the rising Donchian Channel. Parabolic values are moving along the D1 trend line, confirming the trend direction. The final oscillator confirmation will be obtained after the local resistance level breakout at 73.2061%: this level is strengthened by “triple top” chart pattern, marked in red ellipse. In our opinion, this event will coincide with the price level intersection at 1.14735. This mark can be used for opening a pending buy order with Stop Loss placed below 1.11785. Both levels are confirmed by Donchian Channel boundaries, Parabolic historical values and Bill Williams fractals.

technical-analysis-charts-usd-cad

After position opening, Stop Loss is to be moved after the ParabolicSAR values, near the next fractal low. Thus, we are changing the probable profit/loss ratio to the breakeven point.

Position Buy
Buy stop above 1.14735
Stop loss below 1.11785

Related Articles

118 COMMENTS

  1. It is the best time to make a few plans for the longer term and it is time to be happy. I have learn this submit and if I may just I want to recommend you few interesting issues or tips. Maybe you can write subsequent articles relating to this article. I want to learn even more things about it!

  2. Can I just say that of a relief to seek out someone who in fact knows what theyre preaching about on-line. You actually have learned to bring a problem to light making it critical. The best way to must check out this and appreciate this side from the story. I cant think youre not more well-known since you also certainly develop the gift.

  3. Hmm, it looks as if your website ate my to start with comment (it was really very long) so I guess I’ll just sum it up what I’d penned and say, I’m comprehensively experiencing your site. I as well am an aspiring blog author, but I’m nevertheless new to The full thing. Do you’ve any tips for novice web site writers? I’d appreciate it.

  4. San pham khi chup phai co do net cao, khong bi rung hinh. Doi voi cac tho chup anh chuyen nghiep thi ho co nhung may anh chuyen dung, ban chuyen, ky thuat so co chan may anh se de dang lay net, chong rung hon. Neu khong co chan may, chup bang tay, ban hay luu y mot vai diem sau:

  5. The next time I read a blog, I hope that it does not disappoint me just as much as this particular one. After all, Yes, it was my choice to read, however I really thought you would have something helpful to talk about. All I hear is a bunch of complaining about something you can fix if you weren’t too busy seeking attention.

  6. Duoc thanh lap tu nam 2009 Viexpress cung cap nhung dich vu chuyen phat nhanh vao dip tet nguyen dan Chuyen phat cac loai hang hoa nhu Hoa mai Hoa dao Cay canh Banh chung Qua tang qua bieu Voi nhieu kich thuoc can nang khac nhau de deu duoc Viexpress xu li nhanh chong bang hoa don chung tu ro rang dam bao tranh sai sot trong qua trinh van chuyen

  7. The next time I read a blog, Hopefully it does not disappoint me as much as this one. I mean, Yes, it was my choice to read through, nonetheless I truly believed you’d have something helpful to talk about. All I hear is a bunch of crying about something you could fix if you weren’t too busy seeking attention.

  8. I would like to thank you for the efforts you’ve put in penning this site. I’m hoping to check out the same high-grade blog posts from you in the future as well. In fact, your creative writing abilities has inspired me to get my very own blog now 😉

  9. Nhieu nam phat trien va hoan thien  68Expresst da va dang khang dinh vi the dan dau trong linh vuc buu chinh chuyen phat trong do dich vu chuyen phat nhanh trong nuoc va chuyen phat nhanh quoc te la mot trong nhung dich vu cot loi 68Express duoc rat nhieu quy cong ty quy khach hang lua chon

  10. Hello there! This blog post couldn’t be written much better! Going through this post reminds me of my previous roommate! He continually kept preaching about this. I most certainly will forward this article to him. Fairly certain he’s going to have a good read. Thank you for sharing!

  11. I’m excited to discover this website. I wanted to thank you for ones time for this particularly fantastic read!! I definitely appreciated every little bit of it and i also have you bookmarked to see new things on your blog.

  12. Bao bi ben trong hoac tem nhan la thu giu cho san pham cua ban nam gon trong bao bi ben ngoai mot cach an toan. Day co the la goi dau phong hoac giay lua de ngan thu gi do bi chen lan hoac xo xat. Hoac no co the la mot tui kin co tac dung bao quan do tuoi.

  13. Oh my goodness! Awesome article dude! Many thanks, However I am experiencing problems with your RSS. I don’t know why I can’t subscribe to it. Is there anybody getting the same RSS problems? Anyone that knows the answer can you kindly respond? Thanks!!

  14. Can I simply say what a comfort to discover somebody who actually knows what they are talking about over the internet. You definitely know how to bring a problem to light and make it important. A lot more people ought to look at this and understand this side of the story. I was surprised that you are not more popular given that you most certainly possess the gift.

  15. I’d like to thank you for the efforts you’ve put in penning this website. I am hoping to check out the same high-grade content by you later on as well. In truth, your creative writing abilities has inspired me to get my own, personal blog now 😉

  16. Greetings, I believe your blog may be having internet browser compatibility problems. When I look at your web site in Safari, it looks fine however, if opening in I.E., it’s got some overlapping issues. I merely wanted to provide you with a quick heads up! Other than that, great site!

  17. Hi! I could have sworn Iíve visited this web site before but after looking at a few of the articles I realized itís new to me. Nonetheless, Iím definitely delighted I came across it and Iíll be bookmarking it and checking back regularly!

  18. Hello! I could have sworn I’ve visited your blog before but after looking at some of the posts I realized it’s new to me. Regardless, I’m certainly delighted I discovered it and I’ll be bookmarking it and checking back regularly!

  19. Hi there! I could have sworn I’ve visited your blog before but after looking at many of the articles I realized it’s new to me. Anyhow, I’m certainly delighted I discovered it and I’ll be book-marking it and checking back regularly!

  20. The very next time I read a blog, I hope that it won’t fail me as much as this one. After all, I know it was my choice to read, but I really thought you would have something helpful to talk about. All I hear is a bunch of whining about something that you could possibly fix if you were not too busy searching for attention.

  21. Iím amazed, I must say. Rarely do I encounter a blog thatís both equally educative and entertaining, and without a doubt, you have hit the nail on the head. The problem is something which too few people are speaking intelligently about. I’m very happy that I found this during my hunt for something relating to this.

  22. Hi! I could have sworn Iíve visited this site before but after looking at some of the articles I realized itís new to me. Anyhow, Iím definitely delighted I came across it and Iíll be book-marking it and checking back regularly!

  23. I blog frequently and I genuinely appreciate your content. This great article has really peaked my interest. I am going to take a note of your website and keep checking for new details about once a week. I opted in for your Feed as well.

  24. The very next time I read a blog, I hope that it doesn’t fail me as much as this one. I mean, I know it was my choice to read through, however I really believed you’d have something interesting to talk about. All I hear is a bunch of complaining about something you could fix if you were not too busy searching for attention.

  25. An interesting discussion is worth comment. I believe that you need to publish more about this issue, it may not be a taboo subject but generally folks don’t speak about these topics. To the next! Many thanks!!

  26. Hello, I do think your blog could be having internet browser compatibility problems. When I take a look at your site in Safari, it looks fine however when opening in Internet Explorer, it’s got some overlapping issues. I simply wanted to give you a quick heads up! Besides that, wonderful site!

  27. After I originally left a comment I seem to have clicked the -Notify me when new comments are added- checkbox and now every time a comment is added I receive four emails with the same comment. Perhaps there is a means you are able to remove me from that service? Cheers!

  28. Right here is the right website for everyone who wants to find out about this topic. You know so much its almost tough to argue with you (not that I actually would want toÖHaHa). You definitely put a new spin on a topic that has been written about for a long time. Wonderful stuff, just great!

  29. Hi, I do think this is a great blog. I stumbledupon it 😉 I’m going to return yet again since i have book-marked it. Money and freedom is the best way to change, may you be rich and continue to help other people.

  30. Hello there! This blog post couldnít be written much better! Looking through this post reminds me of my previous roommate! He constantly kept preaching about this. I’ll send this article to him. Pretty sure he will have a good read. Many thanks for sharing!

  31. I’m pretty pleased to discover this website. I need to to thank you for ones time just for this fantastic read!! I definitely loved every little bit of it and I have you bookmarked to look at new stuff in your web site.

  32. I blog quite often and I really thank you for your information. Your article has truly peaked my interest. I am going to take a note of your blog and keep checking for new details about once a week. I subscribed to your RSS feed as well.

  33. Oh my goodness! Incredible article dude! Many thanks, However I am having difficulties with your RSS. I don’t understand why I can’t join it. Is there anybody getting similar RSS issues? Anyone who knows the solution can you kindly respond? Thanx!!

  34. I was extremely pleased to uncover this page. I wanted to thank you for your time for this fantastic read!! I definitely appreciated every part of it and i also have you book-marked to see new information in your site.

  35. Hi, I think your site may be having browser compatibility issues. When I take a look at your website in Safari, it looks fine however, if opening in Internet Explorer, it’s got some overlapping issues. I just wanted to provide you with a quick heads up! Apart from that, great site!

  36. I truly love your website.. Very nice colors & theme. Did you build this web site yourself? Please reply back as Iím hoping to create my own website and would like to learn where you got this from or what the theme is called. Thank you!

  37. Hello there! This blog post couldnít be written much better! Going through this post reminds me of my previous roommate! He constantly kept talking about this. I’ll forward this post to him. Pretty sure he’ll have a good read. Many thanks for sharing!

  38. I must thank you for the efforts you have put in penning this website. I really hope to view the same high-grade content from you in the future as well. In fact, your creative writing abilities has motivated me to get my own website now 😉

  39. You are so awesome! I don’t think I’ve read anything like that before. So great to find somebody with some genuine thoughts on this subject. Really.. thank you for starting this up. This web site is one thing that is needed on the internet, someone with a little originality!

  40. Howdy, I think your blog could be having web browser compatibility issues. When I look at your blog in Safari, it looks fine but when opening in I.E., it’s got some overlapping issues. I just wanted to give you a quick heads up! Other than that, wonderful website!

  41. The very next time I read a blog, Hopefully it does not disappoint me just as much as this one. I mean, I know it was my choice to read, nonetheless I truly believed you would probably have something interesting to say. All I hear is a bunch of complaining about something that you can fix if you were not too busy looking for attention.

  42. Oh my goodness! Incredible article dude! Many thanks, However I am going through problems with your RSS. I donít know why I cannot subscribe to it. Is there anybody having the same RSS issues? Anyone that knows the answer can you kindly respond? Thanks!!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

22,878FansLike
3,315FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles