D1 price is on primary bullish condition with secondary flat ranging between 1.1081 support and 1.1385 resistance levels.
is on bullish flat with ranging between 1.1210 support and 1.1271 resistance.
W1 price is on bullish breakout:
the price is on ranging market condition located inside Ichimoku cloud/kumo and trying to break Sinkou Span B line of Ichimoku indicator together with few resistance lines on the way to primary bearish breakout on MN timeframe.
If D1 price will break 1.1081 support level so we may see good correctional trend within primary bullish (good to open sell trade for example)If
D1 price will break 1.1385 resistance so the bullish breakout will be continuing (good to open buy trade)If not so we may see the ranging market condition within bullish.
UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCAD price movement for this coming week)
2014-10-20 12:30 GMT (or 08:00 MQ MT5 time) | [CAD - Wholesale Sales]
2014-10-20 14:00 GMT (or 16:00 MQ MT5 time) | [USD - FOMC Member Powell Speech]
2014-10-21 02:00 GMT (or 04:00 MQ MT5 time) | [CNY - GDP]
2014-10-21 02:00 GMT (or 04:00 MQ MT5 time) | [CNY - Industrial Production]
2014-10-21 14:00 GMT (or 16:00 MQ MT5 time) | [USD - Existing Home Sales]
2014-10-22 12:30 GMT (or 14:30 MQ MT5 time) | [CAD - Retail Sales]
2014-10-22 12:30 GMT (or 14:30 MQ MT5 time) | [USD - CPI]
2014-10-22 14:00 GMT (or 16:00 MQ MT5 time) | [CAD - Overnight Rate]
2014-10-22 15:15 GMT (or 17:15 MQ MT5 time) | [CAD - BOC Press Conference]
2014-10-23 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Unemployment Claims]
2014-10-24 14:00 GMT (or 16:00 MQ MT5 time) | [USD - New Home Sales]
Please note : some US (and CNY) high/medium impacted news events (incl speeches) are also affected on USDCAD price movement
SUMMARY : bullish
TREND : flat
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.10.18 12:07
newdigital, 2014.10.19 14:31
The USD/CAD pair rose during the course of the week, but found enough
resistance at the 1.14 level to turn things back around and form a
shooting star. However, the previous two weeks formed hammers, so we
feel that the market is essentially going to consolidate in this general
vicinity. We do not anticipate any type of selling to occur, so
therefore we are going to step on the sidelines in order to avoid a lot
of the potential volatility and grinding type of action that we are
going to see.
newdigital, 2014.10.19 14:59
newdigital, 2014.10.21 06:54
if actual > forecast (or actual data) = good for currency (for CNY in our case)
[CNY - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy.
China GDP Rises 7.3% On Year In Q3
China's gross domestic product expanded 7.3 percent on year in the
third quarter of 2014, the government said on Tuesday - topping
expectations for an increase of 7.2 percent but slowing from 7.5 percent
On an annualized quarterly basis, GDP was up 1.9 percent -
also beating forecasts for 1.8 percent and down from 2.0 percent in the
previous three months.
The government also said that industrial
production climbed 8.0 percent on year in September, beating
expectations for 7.5 percent and up from 6.9 percent in August.
sales climbed an annual 11.6 percent, just shy of forecasts for 11.7
percent and down from 11.9 percent in the previous three months.
asset investment jumped 16.1 percent on year, also missing expectations
for 16.3 percent and down from 16.5 percent in the three months prior.
MetaTrader Trading Platform Screenshots
USDCAD, M5, 2014.10.21
MetaQuotes Software Corp., MetaTrader 5, Demo
USDCAD M5: 12 pips price movement by CNY - GDP news event
newdigital, 2014.10.23 06:28
[CNY - HSBC Manufacturing PMI] = Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It's a leading indicator of economic health - businesses 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.
China Manufacturing PMI Rises Slightly In October - HSBC
China's manufacturing sector continued to expand at a slightly
accelerated pace in October, the latest survey from HSBC Bank revealed
in Thursday's preliminary reading with a PMI score of 50.4.
Now at a three-month high, the October score is up marginally from 50.2 in September.
A score above 50 signals expansion in a sector, while a reading below means contraction.
as well as external demand showed some signs of slowing although both
remained in expansion territory. Disinflationary pressures intensified,
as both the input and output price indices declined further. Meanwhile
both employment and inventory indices improved," said Hongbin Qu, Chief
Economist, China & Co- Head of Asian Economic Research at HSBC.
USDCAD, M5, 2014.10.23
USDCAD M5: 13 pips price movement by CNY - HSBC Manufacturing PMI news event
newdigital, 2014.10.24 05:31
USD/CAD Technical Analysis: Stalling Above 1.12 Figure (based on dailyfx article)
The US Dollar
may be forming a top against its Canadian namesake as negative RSI
divergence points to fading upward momentum. A daily close below the
intersection of a rising channel floor and the 23.6% Fibonacci
retracement at 1.1204 exposes the 1.1092-98 zone (38.2% level, September
15 high). Alternatively, a push above the 38.2% Fib expansion at 1.1329
opens the door for a challenge of 1.1406, the intersection of the 23.6%
threshold and the channel top.