It was seconday correction within primary bullish for the 10th day till Friday on D1 timeframe : price was trying to break Sinkou Span A line (which is the border of Ichimoku cloud/kumo) to be fully reversed from bullish to bearish market condition. Chinkou Span line of Ichimoku indicator crossed historical price from above to below for good breakdown but on open bar only.
W1 timeframe. Price is ranging between 1.0910 support and 1.1278 resistance with primary bullish (price is above Sinkou Span A line of Ichimoku indicator which is "virtual border" between bearish and bullish on the chart).
If not so bullish trend will be continuing with ranging market as well.
UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCAD price movement for this coming week)
2014-03-31 13:45 GMT (or 15:45 MQ MT5 time) | [USD - Chicago PMI]
2014-03-31 13:55 GMT (or 15:55 MQ MT5 time) | [USD - Fed Chair Yellen Speech]
2014-04-01 01:00 GMT (or 03:00 MQ MT5 time) | [CNY - Manufacturing PMI]
2014-04-01 01:45 GMT (or 03:45 MQ MT5 time) | [CNY - HSBC Final Manufacturing PMI]
2014-04-01 14:00 GMT (or 16:00 MQ MT5 time) | [USD - ISM Manufacturing PMI]
2014-04-02 12:15 GMT (or 14:15 MQ MT5 time) | [USD - ADP Non-Farm Employment Change]
2014-04-03 01:00 GMT (or 03:00 MQ MT5 time) | [CNY - Non-Manufacturing PMI]
2014-04-03 12:30 GMT (or 14:30 MQ MT5 time) | [CAD - Trade Balance]
2014-04-03 14:00 GMT (or 16:00 MQ MT5 time) | [USD - ISM Non-Manufacturing PMI]
2014-04-04 12:30 GMT (or 14:30 MQ MT5 time) | [CAD - Employment Change]
Please note : some US (and CNY) high/medium impacted news events (incl speeches) are also affected on USDCAD price movement
SUMMARY : possible reversal
TREND : ranging
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.03.29 12:08
newdigital, 2014.03.30 15:06
newdigital, 2014.03.31 14:31
2014-03-31 12:30 GMT (or 14:30 MQ MT5 time) | [CAD - GDP]
if actual > forecast = good for currency (for CAD in our case)
USDCAD M5 : 29 pips price movement by CAD - GDP news event :
newdigital, 2014.03.30 15:02
newdigital, 2014.04.03 09:13
2014-04-03 01:45 GMT (or 03:45 MQ MT5 time) | [CNY - HSBC Service PMI]
if actual > forecast = good for currency (for CNY in our case)
China Services PMI Rises To 51.9 In March
The service sector in China expanded at a faster pace in March, the
latest PMI from HSBC and Markit Economics revealed on Thursday, coming
in with a four-month high score of 51.9.
That's up from 51.0 in
February, and it moves farther above the boom-or-bust line of 50 that
separates expansion from contraction.
The employment sub-index
moved higher for the first time in five months, the data showed, while
input costs declined at manufacturers but gained at service providers.
Manufacturers' new orders fell at the strongest rate in 28 months.
fell for the second month in a row at manufacturers, albeit marginally.
Backlogs of work also decreased slightly at service sector firms. Input
costs faced by Chinese manufacturers fell at the sharpest rate since
"The HSBC China Services PMI suggests a modest
improvement of business activities in March, with employment expanding
at a faster pace. However, combined with the weaker manufacturing PMI
reading, the underlying strength of the economy
is softening, which should ultimately weigh on the labor market," said
Hongbin Qu, HSBC Chief Economist, China & Co-Head of Asian Economic
MetaTrader Trading Platform Screenshots
USDCAD, M5, 2014.04.03
MetaQuotes Software Corp., MetaTrader 5, Demo
USDCAD M5 : 10 pips price movement by CNY - HSBC Service PMI news event
newdigital, 2014.04.04 14:45
USDCAD, M5, 2014.04.04
USDCAD M5 : 59 pips price movement by CAD - Employment Change news event