GBPJPY_2022-05-23_06-31-06

Gbp/Jpy Trading Idea: Tokyo-London Session.

GBP/Jpy Trading Idea! gbp/jpy pair seems to be on a bull run, however, the pair has retested the broken resistance level and is currently consolidating around the broken support level. Could pair this be a viable trading setup to catch some pips? read through to find out more.

Economic events on GBP

BOE Gov Bailey Hearings:

Being the head of the central bank, which controls short-term interest rates, he has more influence over the nation’s currency value than any other person.

Investors always inspect his public commitment as they are many times used to critical hints in regards to the future approaches.

Gbp/Jpy Trading Idea: Tokyo-London Session.

Volatility is highly experienced during his speeches as traders attempt to decipher interest rate clues, more bearish than expected is good for the currency.

Flash Manufacturing PMI:

It measures the Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.

A Survey of about 650 purchasing managers asks respondents to rate the relative level of business situation including employment, production, new orders, prices, supplier deliveries, and inventories.

Results of 50.0 above indicate industry expansion and below indicates contraction. There are 2 versions of this report released about a week apart – Flash and Final.

This is viewed as a proactive factor of financial well-being – organizations respond rapidly to economic situations, and their buying chiefs hold the latest and most significant knowledge into the organization’s perspective on the economy.

Economic events on Jpy

BOJ Gov Kuroda Hearings:

Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues.

As head of the central bank, which controls short-term interest rates, he has an important influence over the nation’s currency value.
Traders examine his discourses as they most of the time used to drop unobtrusive hints with respect to future financial approaches and loan fee shifts.

Conclusion

Using the charts provided above we can observe closely that gbp/jpy pair traded within two strong price levels 150.000 and 158.000 for around five months from November to march when it was finally broken.

After it broke the 158.00 price level which served as resistance, the pair rallied up, and traded into the 165.000 price level, thus causing a price rejection, moreover forcing the pair to retest the broken resistance level.

GBP/jJPY pair has tested and bounced off the broken resistance level and we strongly consider this a viable setup for traders to look for opportunities to buy-In.

What are your thoughts on this gbp/Jpy trading idea? Is it useful ? or is it a waste of time? Let us know by commenting on this post or you can visit our community forum, and be sure to check back in the near future for more trading-related content.

Aud/Cad Trading Idea: Tokyo-London Session

Aud/Cad Trading Idea: Tokyo-London Session

Aud/Cad Trading Idea! Just a few days after our previous analysis, the pair played out as speculated. Could this be an additional trading opportunity to scale into our trade or sit back and watch the market? Continue reading to explore this trading opportunity.

Economic events on Aud

Unemployment Rate:

The unemployment rate is used to measure the percentage of the total workforce that is unemployed and the ones actively seeking employment during the previous month, Although it is generally viewed as a lagging indicator.

The number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market situations, this data is released monthly, about 15 days after the month ends.

If however, the Actual data released is lesser than the Forecast, it is considered good for the preceding currency.

CurrencyForecastPrevious
AUD3.9%4.0%
High Economic Impact

Economic events on Cad

Overnight Rate:

This measures the interest rate at which major financial institutions borrow and lend overnight funds between themselves, The rate decision is usually priced into the market, so it tends to be influenced by the Bank of Canada(BOC) Rate Statement, which focuses on the future.

Short-term interest rates are the paramount factor in currency valuation – Investors/traders look mostly at other indicators merely to predict how interest rates are likely to change in the nearest future.

This data is scheduled 8 times per year, however, if the ‘Actual’ data released is greater than ‘Forecast’, it is considered good for the currency.

CurrencyForecastPrevious
CAD1.00%0.50%
High Economic Impact

Highlight

Aud/Cad pair as speculated from our previous analysis retested the broken resistance of the Descending broadening wedge pattern where it bounced off, thus making a new high testing 0.95000 price level which resulted in a minor pullback on the pair.

Using the stochastic indicator on the above daily chart, we can observe that the Simple moving averages(SMA) are already in the oversold region, this is an additional confluence that buyers are jumping in with their orders.

Conclusion

The unemployment rate is used to measure the percentage of the total workforce that is unemployed and the ones actively seeking employment, however, if the Actual data released is lesser than the Forecast, the Aud/Cad pair will be expected to continue its trend.

What are your thoughts on this Aud/Cad trading idea? Is it useful ? or is it a waste of time? Let us know by commenting on this post or our forum, and be sure to check back shortly for more trading-related content.

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Broadening Wedge: Aud/Cad Trading Ideas

Descending broadening wedge pattern broken, is this actually a trend reversal? volatility spike or fake out? will the pair retest the broken resistance and buy or break down and continue selling?

In this article, we will examine the aud/cad currency pair using the fundamental, technical, and sentiment analysis to find out if this setup is viable, read through to find out more.

Table of Contents

Economic events on Aud

Monetary Policy Meeting Minutes:

The monetary policy meeting minutes are a detailed record of the (RBA) Reserve Bank Board’s most recent meeting, it provides in-depth insights into the economic conditions which influences their decision on where to set interest rates.

Info is released 11 times per year, 2 weeks after the Cash Rate is announced, it is good for currency when more hawkish than expected.

Employment Change:

This measures the change in the number of employed individuals during the past month, it is vital economic data released shortly after the end of a month. The combination of importance and earliness makes for huge market impacts.

Job creation and availability is an important leading indicator of consumer spending, this basically accounts for a majority of overall economic activity, Data is released monthly about 15 days after the month ends, if ‘Actual’ is greater than ‘Forecast’, it is considered good for the currency.

CurrencyForecastPrevious
AUD40.3K12.9K
High Economic Impact

Economic events on Cad

Consumer Price Index (CPI):

The consumer price index (CPI) is the most important inflation-related release due to its earliness and broad scope. It is among the few non-seasonally adjusted number calculation most commonly reported on the calendar.

However it measures the changes in the price of goods and services purchased by consumers, The average price of various goods and services is sampled and then compared with the previous sampling.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because the rise in prices of goods and services prompts the central bank to raise interest rates with respect to their inflation containment mandate.

CurrencyForecastPrevious
CAD0.9%0.9%
High Economic Impact

This data is released monthly, usually on the third Wednesday after the month ends, if the ‘Actual’ outcome is greater than the ‘Forecast’, it is good for the currency.

Retail Sales Ex Autos:

Retail Sales Ex Autos measures change in the total value of sales at the retail level, excluding automobiles, Automobile sales account for about 20% of Retail Sales, it tends to be very volatile and distort the underlying trend.

CurrencyForecastPrevious
CAD2.2%-2.5%
Medium Economic Impact

The core data is therefore thought to be a better gauge for the spending trends, Info is released monthly, about 50 days after the month ends.

Market analysis

Aud/Cad currency pair has been trading within an area of support and resistance zone known as descending broadening wedge pattern, This is a bullish chart pattern (said to be a reversal pattern) which is formed by two diverging bullish lines.

However, the pair made a good oscillation between the two upward lines. The upper line is the resistance line, the lower line is the support line, which is confirmed/valid from our previous analysis.

Conclusion

It further played out as speculated thus testing the diverging support line, from the chart above, we can observe that the pair broke the diverging resistance line during last week’s trading session.

The stochastic oscillator is heading to the oversold level which primarily indicates that the pair will continue its bullish move.

Moreover, since the descending broadening wedge pattern has been broken, it is expected that aud/cad currency pair will retest the broken resistance, probably price level 0.92425, then continue its bullish move if the employment change on Aud is greater or equal to the forecast.

What are your thoughts on this trading idea? Is it useful? or is it a waste of time? Let us know by commenting on this post, visiting our community forum will be best and be sure to check back in the near future for more trading-related content.

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Great Britain Pounds Vs US Dollar Sell Opportunity

Great Britain Pounds Vs US Dollar pops up a Sell Opportunity as pair retraces after testing and bouncing off the resistance of the descending broadening wedge chart pattern during the previous week’s trading session as a result of economic data release which weekend the United States Dollar.

Table of Contents

Economic Events On Gbp

BOE Gov Bailey Speaks

Due to hearings from BOE Governor Andrew Bailey at an online event hosted by The CityUK, BOE Governor Mar 2020 – Mar 2028. Volatility is often observed at the time of his speeches as traders attempt to decipher interest rate clues, As being the head of the central bank, who basically controls short-term interest rates has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop important clues regarding future monetary policy, More hawkish than expected is good for the currency.

BOE – Bank Of England

Prelim GDP q/q

This basically measures the change in the inflation-adjusted value of all goods and services produced by the country, There are 2 versions of quarterly GDP released about 45 days apart – Preliminary and Final GDP. This Preliminary GDP is the earliest to be released and thus tends to have the most impact.

It’s the broadest measure of economic activity and the primary gauge of the economy’s health, Data is released quarterly, about 40 days after the quarter ends. ‘Actual’ result greater than ‘Forecast’ is considered good for the currency.

CurrencyForecastPrevious
GBP1.1%1.1%
Source: forex factory

Economic Events On Usd

FOMC Member Mester Speaks

Due to speak about the economic outlook and monetary policy by Federal Reserve Bank of Cleveland President Loretta Mester at an online event hosted by the European Economics and Financial Centre. Audience questions are usually expected from FOMC voting members in 2014, 2016, 2018, 2020, and 2022.

Federal Reserve FOMC members meet together and at the end of the day vote on where to set the nation’s key interest rates and their public engagements are often used to drop relevant clues regarding future monetary policy.

Core CPI m/m

this measure the change in the price of goods and services purchased by prospective consumers, it excludes food and energy. Food and energy prices more often than not account for about a quarter of CPI, but they tend to be very volatile and distort the underlying trend. The FOMC usually pays more attention to the Core data – as well as traders. Consumer prices account for a majority of overall inflation.

Inflation is very important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate, ‘Actual’ result greater than ‘Forecast’ is perceived to be good for the currency. this info is released monthly, about 16 days after the month ends

CurrencyForecastPrevious
USD0.5%0.6%

Conclusion

During the previous week’s trading session, the Great Britain Pounds Vs US Dollar pair tested the resistance of the descending broadening wedge pattern, This is a chart pattern formation identified by technical analysts. It is characterized by increasing price volatility and diagrammed as two diverging trend lines, one rising and one falling. It usually occurs after a significant rise, or fall, in the action of commodity prices.

However Great Britain Pounds Vs US Dollar pair retraces testing the 1.36000 psychological price level thus bouncing off during the previous week’s trading session as a result of economic data release which weekends the United States Dollar, we might consider paying attention to the upcoming economic events as they play a significant role in the future direction of the market

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Broadening Wedge Trading Idea Gbp/Usd.

Broadening Wedge Trading Idea as GBP/Usd pair made a good buy as speculated in our previous analysis thus testing and bouncing off the resistance of the broadening wedge pattern.

Will the pair continue selling or pull back to retest the broken support level? Read through to find out more…

Table of Contents

Economic Events On GBP

Consumer Price Index (CPI):

This typically measures the changes in the price of goods and services purchased by consumers over some months, It is considered to be the United Kingdom’s (UK’s) most important inflation data because it is basically used as the central bank’s inflation target.

The average price of varieties of goods and services are mostly sampled and then compared to the sampling done a year earlier to examine the changes.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because the rise in prices of goods and services leads the central bank to raise interest rates out of respect for their inflation containment mandate.

CurrencyForecastPrevious
GBP5.2%5.1%

This information is released monthly, about 16 days after the month ends and if the ‘Actual’ result is greater than ‘Forecast’ then is good for the currency.

BOE Gov Bailey Hearings:

Due to testify, along with BOE Deputy Governor Jon Cunliffe, on the Bank of England Financial Stability Report before the Treasury Select Committee in London,

The Bank Of England Governor (BOE) Mar 2020 – Mar 2028. Volatility is highly experienced during his speeches as investors/Traders attempt to decipher interest rate clues which is a significant insight into the economy.

Being head of the central bank, who controls short-term interest rates, however, has more influence and makes more impact on the nation’s currency value than any other person.

Investors/Traders scrutinize his public engagements as they are often used to drop relevant clues regarding the future monetary policy of the nation.

BOE Governor Andrew Bailey’s hearings, when More hawkish than expected are good for the currency.

Trading Idea Gbp/Usd

Economic Events On Usd

Unemployment Claims:

This basically measures the number of individuals who filed for unemployment insurance for the first time during the previous week, This is typically one of the nation’s earliest economic data events. The market impact however fluctuates from week to week as a result of that.

There tends to be more focus on the release when investors/traders need to diagnose, study recent developments, or when the reading is at its peak, Although it’s generally conceived as a lagging indicator by Investors/Traders, the number of unemployed people happens to be an important index of overall economic health because consumer’s spending is highly correlated with labor-market conditions.

CurrencyForecastPrevious
USD221K230K

Unemployment is also a major consideration for those controlling the country’s monetary policy, it’s often released weekly, usually on the first Thursday after the weekends, if the ‘Actual’ data release is less than ‘Forecast’ then is good for the currency.

Existing Home Sales:

This measure annualized a unique number of residential housing that was sold during the past month, excluding newly constructed ones. While this is monthly data, it’s reported in an annualized format (monthly figure x12) and is also a leading indicator of economic health because the sale of a home stirs up a wide-reaching ripple effect.

Renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid exclusively to execute the transactions, Data is released monthly, about 20 days after the month ends. when the ‘Actual’ outcome is greater than the ‘Forecast’ then is good for the currency.

CurrencyForecastPrevious
USD6.42M6.46M

Trading Idea Gbp/Usd

From our previous analysis, we speculated on the direction of the above chart pattern known as Descending broadening wedge which played out well, Broadening Wedge Trading Idea on Gbp/Usd pair formation is a price chart pattern identified by technical analysts.

It is characterized by increasing price volatility and diagrammed as two diverging trend lines, one rising and one falling.

It usually occurs after a significant rise, or fall, in the action of security or commodities prices. Moreover at the end of Q4 pair traded around the support of the chart pattern which later rallied up as a result of bullish economic data release

Conclusion

GBP/Usd pair has tested and bounced off the resistance of the descending broadening wedge pattern at a high momentum, It is also expected that the pair may pull back to retest the broken support level 1.36500 or 1.37000 before it continues its bearish extension

Great Britain pounds Vs Us Dollars Gbp/Usd may sell tremendously as per the upcoming economic events which is a leading index on a nation’s currency value,

However, utilizing the stochastic oscillator whose SMA’s is heading off overbought level signals that buyers are exhausted therefore closing their long position and that sellers are setting in with their massive short(sell) orders.

What are your thoughts on this Gbp/Usd trading idea? Is it useful? or is it a waste of time? Let us know by commenting on this post or our forum, and be sure to check back in the near future for more trading-related content.

AUD/CAD Trade Idea

Aud/Cad Trade Idea ” London Trading Session”.

High probability of short opportunity on AUD/CAD trade idea, Pair pulls back to retest the broken support/supply zone, Wondering if pair will continue or make a new high? Read through to find out more.

Economic Data Events On CAD

Building Permits m/m:

This measures the current changes in the total value of new building permits issued to investors/citizens, It’s an excellent gauge of future construction activity. Basically obtaining a building permit is among the first steps in constructing a new building/residence.

CurrencyForecastPrevious
CAD2.1%1.3%

This is released monthly, about 35 days after the month ends, if the ‘Actual’ result is greater than the ‘Forecast’ then good for the currency.

Employment Change:

This measures the absolute changes in the number and population of employed people during the previous month, It is vital economic data released shortly after the month ends with a huge impact on the economy. The combination of importance and earliness makes for hefty market impacts throughout the period of its release.

Employment creation is an important leading index of consumer spending, This accounts for a majority of overall economic growth and activity.

CurrencyForecastPrevious
CAD24.5K153.7K

It is released monthly, about 8 days after the end of every month, if the ‘Actual’ data released is greater than ‘Forecast’ it is good for the currency.

AUD/CAD

4 Hour Line Forex Aud/Cad Trade Idea

Unemployment Rate:

The unemployment rate measures the percentage of the total workforce that is unemployed people and once actively seeking employment during the past month, Although it’s generally perceived as a lagging indicator.

However, the number of unemployed people is an important signal of overall economic health simply because consumer spending is highly correlated with labor-market conditions.

CurrencyForecastPrevious
CAD6.0%6.0%

The unemployment rate is usually released monthly, about 8 days after the end of the month; if ‘Actual’ released data is less than ‘Forecast’ it is considered by investors good for the currency.

Ivey PMI:

this measures the level of a diffusion index-based Survey of about 175 purchasing managers conducted, selected geographically and by sector of activity to inspect the economy as a whole.

Respondents are asked to rate the relative level of business conditions and activity including employment, production, new orders, prices, supplier deliveries, and inventories.

It’s a leading index of economic health and activities – businesses respond quickly to market conditions, and their purchasing directors hold perhaps the most current and relevant information to the company’s view of the economy.

CurrencyForecastPrevious
CAD64.361.2
Medium

The data is released monthly, about 5 days after the month ends, ‘Actual’ release greater than ‘Forecast’ is good for the currency.

AUD/CAD

Firstly as being the first quarter of the year market seems unpredictable in previous analysis but Aud/Cad pops up a trade idea / short opportunity as the pair pulls back to retest the broken support zone.

Secondly, Before the end of Q4 pair traded sideways as a disagreement between investors which resulted in the formation of a chart pattern considered by investors to be Descending broadening wedge, It is characterized by increasing price volatility and diagrammed as two diverging trend lines, one rising and one falling.

Conclusion

However, AUD/Cad Trade Idea from the 4Hour line chart above we can observe that pair traded with high liquidity around the resistance of descending broadening wedge pattern, later during last week trading session pair broke and made a high of 0.93000 of which it rallied down breaking a key support zone 0.92500.

Moreover, the break in structure was quite a confirmation that the pair will continue bearish throughout the week, AUD/CAD pair sold as speculated and then tested a support zone of 0.91800 which resulted in the current ongoing retracement, this implies that the pair might continue its downtrend.

Additionally paying attention to the upcoming economic data release is necessary because vital information is released which makes a huge impact on the currency.

Us Dollar - Canadian Dollar Daily Line Forex Chart

Us Dollar – Canadian Dollar Usd/Cad Forecast.

Us Dollar – Canadian Dollar pair trading around the neckline/resistance of the inverse head and shoulder pattern as speculated on our previous analysis outcome from economic data events.

Will the pair break out to the upside or range for a while to gather momentum before breaking out? Read through for some economic data events to be considered which might be the leading indicator of the direction of the market.

Economic Events On USD

JOLTS Job Openings:

Number of employment opportunities during the announced month excluding the farming industry, It’s delivered late, however, can affect the market since employment opportunities are a proactive factor of overall employment.

Delivered month to month, around 35 days after the month closes, on the off chance that ‘Genuine’ result is more prominent than ‘Estimate’ is useful for currency.

Job Openings and Labor Turnover Survey (JOLTS).

CurrencyForecastPrevious
USD10.44M

10-y Bond Auction:

It measures the best return on 10-year bonds the public authority sold at sell-off and the bid-to-cover proportion of the sale.

Sell-off outcomes are accounted for in an ‘X.XX|X.X’ design – the principal number is the most elevated financing cost of the bonds sold, and the subsequent number is the offered to cover proportion (number of offers made per bid acknowledged).

Yields are set by security market financial investors, and along these lines, they can be utilized to unravel financial investors’ outlook on future interest rates.

The bid-to-cover proportion addresses security market liquidity and request, which can be utilized to check financial investors’ certainty. This is Conducted month to month, with No reliable impact – there are both risk and development implications.

Treasury Auction, Note Auction.

CurrencyForecastPrevious
USD1.44|2.4

Unemployment Claims:

The number of people who petitioned for unemployment insurance interestingly during the previous week.
This is the country’s most punctual economic information.

The market impact changes from one multi-week to another – there will in general be more spotlight on the delivery when traders need to analyze ongoing turns of events, or when the reading is at limits.

In spite of the fact that it’s for the most part viewed as a lagging indicator, the quantity of unemployed individuals is a significant sign of general economic well-being since consumer spending is profoundly related to work economic situations.

Joblessness is additionally a significant thought for those controlling the country’s financial approach.
Delivered week by week, normally on the main Thursday after the week closes, ‘Real’ not as much as ‘Figure’ is useful for money.

CurrencyForecastPrevious
USD225K222K

USD/CAD

Economic Data Events On CAD

Ivey PMI:

This measures the level of a diffusion index dependent on studied purchasing supervisors. Overview of around 175 buying managers, chosen geologically and by area of action to match the economy in general.

This requests respondents to rate the overall level of business conditions including work, creation, new orders, costs, provider conveyances, and inventories.

Above 50.0 demonstrates industry development, beneath shows constriction. Source changed series from non-occasionally acclimated to occasionally changed as of Mar 2011.

It’s a proactive factor/leading indicator of economic wellbeing – organizations respond rapidly to economic situations, and their purchasing managers possess the most current and significant knowledge of the organization’s perspective on the economy.

Delivered month to month, around 5 days after the month closes, ‘Real’ is more prominent than ‘Estimate’ is useful for currency.

CurrencyForecastPrevious
CAD60.259.3

Purchasing Managers’ Index (PMI).

Overnight Rate:

This measures the interest rate at which major financial institutions borrow and lend overnight assets between themselves. The rate choice is typically estimated in the market, so it will in general be eclipsed by the BOC Rate Statement, which is centered/focused on the future.

BOC Governing Council individuals come to an agreement on where to set the rate.
Short-term interest rates are a vital element in money/currency valuation – dealers take a gander at most different indicators only to anticipate how rates will change later on.

Booked 8 times each year, ‘Real’ is more noteworthy than ‘Estimate’ is useful for currency.

CurrencyForecastPrevious
CAD0.25%0.25%

Interest Rates, Key Interest Rate, Bank of Canada (BOC).

Conclusion

Firstly From our previous analysis, we spotted on the Us Dollar – Canadian Dollar a chart pattern considered by the majority of investors to be a bullish reversal chart pattern known as Inverse Head and Shoulder patterns. An inverse head and shoulders are similar to the standard head and shoulders pattern, rather inverted with the head and shoulders top used to predict reversals in downtrends.

Secondly, From the Daily Us Dollar – Canadian Dollar chart, the SMA’s of the stochastic indicator is already in the overbought level though might not be considered useful.

Us Dollar – Canadian Dollar Aud/Cad pair is likely to break out as Investors typically will enter the market with their orders(long position) when the price rises above the resistance of the neckline. Outcomes of the upcoming economic data events on both currencies USD/CAD might serve as catalysts if the outcome is positive.

Australian Dollar - Canadian Dollar Daily Forex Chart

Australian Dollar – Canadian Dollar Forecast

Short-term buy(LONG) opportunity as the Australian Dollar Canadian Dollar pair test the support of the falling wedge.

Economic Events On AUD

Gross Domestic Product (GDP)

Change in the inflation-adjusted value of all goods and administrations delivered by the economy.

It’s the broadest proportion of monetary activity and the essential measure of the economy’s wellbeing.

Delivered quarterly, around 65 days after the quarter closes, ‘Genuine’ is more prominent than ‘Figure’ is useful for currency.

CurrencyForecastPrevious
AUD-2.5%0.7%

Economic Events On CAD

BOC Gov Macklem Hearings

Due to convey introductory statements at a virtual conference held together facilitated by the Bank of Canada and Reserve Bank of New Zealand. Audience questions anticipated.

BOC Governor Jun 2020 – Jun 2027, Volatility is usually experienced during his talks as merchants and investors endeavor to translate loan fee pieces of information.

As head of the central bank, which controls transient loan costs, he has more influence over the country’s currency value than some other individual.

Dealers and investors examine his public commitment as they are frequently used to dropping inconspicuous signs with respect to future moneytary-related approaches.

BOC Governor Tiff Macklem, More hawkish than anticipated is useful for currency.

Bank of Canada (BOC).

Gross Domestic Product (GDP)

Change in the expansion value of all goods, services, and administrations delivered by the economy.

It’s the broadest proportion of monetary activity and the essential measure of the economy’s wellbeing.

Delivered month to month, around 60 days after the month closes, ‘Genuine’ is more prominent than ‘Figure’ is useful for currency.

Source Statistics Canada (latest release)

CurrencyForecastPrevious
CAD0.0%0.4%

AUD/CAD

Building Permits m/m

These measures change the total value of new building permits issued to individuals and investors. It’s an excellent index of future construction activity because obtaining a permit is among the first steps in constructing a new building.

Frequently released monthly, about 35 days after the month ends, if the ‘Actual’ result is greater than ‘Forecast’ then is good for the currency.

CurrencyForecastPrevious
CAD-1.1%4.3%

Conclusion

Firstly from the Daily chart, we can closely observe that the Australian Dollar – Canadian Dollar pair is considerably trading/ consolidating within the falling wedge.

This is a chart pattern considered by investors and traders to be a bullish trend reversal or continuation pattern. The falling wedge pattern is formed when the price bounces between two downward slopings, converging trendlines.

it is Linked using a trend line on lower highs and lower lows, The two lines will slopes downwards and converge.

During the end of October which is the first month of the first quarter(Q1), the Pair made its way to the resistance of the falling wedge though it consolidated a while before breaking the key support level of 0.92800.

Secondly, AUD/CAD pair after the break-in structure got interested retail traders and investors to jump in with their short orders(SELL).

Moreover, the pair from the 2 Hour chart made some swings (Lower Highs and Lower Lows) while it rallied down, Pair has traded and tested the support trend line.

However, with the help of stochastic technical indicator on the Daily chart, its SMA’s are currently at the oversold level which is a key confirmation that the pair will buy.

New ZeeLand Dollar - Us Dollar Daily Forex Chart

New ZeeLand Dollar – Us Dollar Analysis, NZD/USD.

New Zeeland Dollar – Us Dollar Currently Trading around the support of the rising channel from analysis on Daily chart. This calls for the opportunity to either go long(BUY) or go short(SELL), New Zeeland Dollar – Us Dollar Pair is a positive correlation with AUD/USD in respect of our previous analysis.

Economic Events On NZD

Official Cash Rate

Rate choice is typically evaluated in the market, so it at most will in general be eclipsed by the RBNZ Rate Statement, which is centered around what’s to come.

Anyway, RBNZ Governor concludes on where to set the rate in the wake of meeting with the senior bank staff and outer counselors.

Transient financing costs are essentially key variables in money valuation – merchants check out most different pointers only to foresee how rates will change later on. Booked 7 times each year, in the event that the ‘Genuine’ result is more prominent than ‘Estimate’ is useful for the currency.

CurrencyForecastPrevious
NZD0.75%0.50%

RBNZ Monetary Policy Statement

In this report, the RBNZ is ordered to remember subtleties for how they will accomplish their expansion targets, how they propose to plan and execute money-related arrangements during the following five years, and how the financial approach has been carried out since the last assertion’s delivery.

It gives important knowledge into the bank’s perspective on monetary conditions.

Expansion – the key factors that will shape the fate of financial arrangements and impact their loan cost choices. Delivered quarterly, More hawkish than anticipated is useful for currency.

Reserve Bank of New Zealand (RBNZ).

RBNZ Rate Statement

It’s among the essential apparatuses the RBNZ uses to speak with financial backers about money related approach. It contains the result of their choice on loan fees and a critique of the monetary conditions that affected their choice.

Above all, it talks about the economic outlook and offers hints on the result of future choices. Planned 7 times each year, More hawkish than anticipated is useful for money.

RBNZ Press Conference

The public interview is around 30 minutes in length and has 2 sections – initial a pre-arranged assertion is perused, then, at that point, the gathering is available to squeeze questions.

The inquiries some of the time lead to unscripted answers that make substantial market unpredictability. The public interview is web-casted on the RBNZ site ongoing. It’s among the essential apparatuses the RBNZ uses to speak with financial investors about money-related approaches.

It covers exhaustively the variables that impacted the latest loan fee choice, like the general financial outlook and expansion. Above all, it gives hints in regards to future money-related arrangements. Booked quarterly, at each and every other Official Cash Rate declaration, More hawkish than anticipated is useful for currency.

Economic Events On USD

Prelim GDP q/q

Annualized change in the worth, goods, and services produced by the economy.

While this is q/q information, it’s accounted for in an annualized design (quarterly change x4). The ‘Past’ recorded is the ‘Real’ from the Advance delivery and thusly the ‘History’ information will seem detached. There are 3 forms of GDP delivered a month separated – Advance, Preliminary, and Final.

The Advance delivery is the soonest and in this way will, in general, have the most effect. It’s the broadest proportion of financial movement and the essential check of the economy’s wellbeing. Delivered quarterly, around 60 days after the quarter closes, ‘Real’ more prominent than ‘Estimate’ is useful for money.

CurrencyForecastPrevious
USD2.2%2.0%

Gross Domestic Product (GDP)

Unemployment Claims

The number of people who petitioned for joblessness protection interestingly during the previous week.

This is the country’s most punctual financial information. The market sway varies from one multi-week to another – there will in general be more spotlight on the delivery when dealers need to analyze ongoing turns of events, or when the perusing is at limits.

In spite of the fact that it’s for the most part seen as a trailing result, the quantity of jobless individuals is a significant sign of generally monetary well-being since customers going through is profoundly connected with work economic situations.

Joblessness is likewise a significant thought for those controlling the country’s financial strategy.

It is delivered week after week, generally on the primary Thursday after the week closes, ‘Genuine’ is not as much as ‘Estimate’ is useful for currency.

CurrencyForecastPrevious
USD259K268K

Core PCE Price Index m/m

Change in the cost of labor and products bought by consumers, excluding food and energy.

Varies from Core CPI in that it just measures labor and products designated towards and devoured by people. Costs are weighted by all-out use per thing which gives significant bits of knowledge into shopper spending conduct.

This is reputed to be the Federal Reserve’s cherished expansion measure, yet CPI is delivered around 10 days sooner and will in general collect a large portion of the consideration.

Delivered month to month, around 30 days after the month closes, ‘Real’ is more prominent than ‘Figure’ is useful for money.

Currency ForecastPrevious
USD0.4%0.2%

Personal Consumption Expenditures (PCE), Consumer Price Index (CPI).

FOMC Meeting Minutes

It’s a definite record of the FOMC’s latest gathering, giving inside and out experiences into the economic and monetary conditions that affected their decision on where to set interest rates. Booked 8 times each year, 3 weeks after the Federal Funds Rate is reported, More hawkish than anticipated is useful for currency.

Federal Open Market Committee (FOMC).

Conclusion

From Our analysis of the Daily Timeframe, it is obvious that New Zeeland Dollar – Us Dollar(NZD/USD) pair is trading around the support of the rising channel.

Regarding the upcoming events, New Zeeland Dollar – Us Dollar(NZD/USD) may likely rage after the release of events. Moreover with the outcome, Positive on NZD and Negative on the USD pair will bounce which will basically prompt investors to go long(BUY) and close any short open position.

However, if the outcome is Negative on NZD and Positive on the USD pair will likely push through, therefore, breaking the structure of the rising channel which will prompt investors to go short(SELL) and more positions added. For more Entry Details Click Here

Screenshot 2021-11-23 at 08-49-45 https www tradingview com

Great Britain – Us Dollar Analysis GBP/USD.

Great Britain Pounds / Us Dollar pair rallies down as speculated in our previous analysis. This is as a result of positive economic data outcome, released on USD via consumer confidence, and Manufacturing index.

Will the pair rally back up or break down through the support of the symmetrical triangle? let’s find out.

Economic Event On GBP

Flash Manufacturing PMI:

This measures the Level of a diffusion index based on surveyed purchasing managers in the manufacturing or production industry.

Outcomes above 50.0 indicate industry expansion while below indicates contraction. There are 2 categories of this report occasionally released about a week apart – Flash and Final.

The Flash release, which is the source first reported in Nov 2019, is the earliest and thus tends to have the most impact on the economy.

This is a Survey of about 650 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

It’s a leading indicator of economic health – businesses tend to react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

It is Released monthly, around 3 weeks into the current month, if the ‘Actual’ result is greater than ‘Forecast’ then is good for the currency.

CurrencyForecastPrevious
GBP57.257.8

Flash Services PMI:

Measures Level of a diffusion index based on surveyed purchasing managers in the services industry.

CurrencyForecastPrevious
GBP58.659.1

GBP/USD

Great Britain Pounds - Us Dollar 4 Hour Line Forex Chart
Great Britain Pounds – Us Dollar 4 Hour Line Forex Chart

Economic Events on USD

Flash Manufacturing PMI

It measures the Level of a diffusion index based on surveyed purchasing managers in the manufacturing or production industry.

Normally outcomes above 50.0 indicate industry expansion while below indicates contraction. There are 2 categories of this report occasionally released about a week apart – Flash and Final.

The Flash release, which is the source first reported in Nov 2019, is the earliest and thus tends to have the most impact on the economy.

This is a Survey of about 650 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

It’s a leading indicator of economic health – businesses tend to react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

It is released monthly, around 3 weeks into the current month, if the ‘Actual’ result is greater than ‘Forecast’ then is good for the currency.

CurrencyForecastPrevious
USD59.358.4

Flash Services PMI:

This measures the Level of a diffusion index based on surveyed purchasing managers in the manufacturing or production industry.

CurrencyForecastPrevious
USD59.158.7

Pair Observation

Firstly Great Britain Pounds – Us Dollar after our speculation that pair will sell which played out well, Has been making lower highs(LH) and lower lows(LL).

Secondly, The pair throughout the weeks after the speculation sold tremendously with an extension of 200pips after each pullback(LH).

Conclusion

Moreover, During the last trading week, we can clearly observe from the 4Hour chart that GBP/USD pair pulled back(LH) which is already an extension.

However Unlike earlier trading weeks, there was a good momentum due to the economic Events and some investors’ sentiments, this is an insight that the pair may likely change direction.

With the upcoming Economic events via Flash Manufacturing, Flash Services PMI GBP, Flash Services PMI USD.

The pair is expected to test the support level of the symmetrical triangle at 1.33000 resulting in a 200pips move from the pullback(LH) before a bullish reversal. Do you have any contributions or questions? our forum is open.