Source: PaxForex Premium Analytics Portal, Technical Insight
In Canada, the unemployment rate fell in October:
Canada: October, the net change in the employment rate of 83.6 thousand vs. the forecast of 100 thousand;
Full employment is 69.1 thousand vs. the forecast of 100 thousand. 334 thousand; -3.1% YoY;
Part-time employment is 14.5 thousand vs. the previous 44.2 thousand; -3.4% YoY;
The unemployment rate is 8.9% vs. the forecast of 8.8% and pre. 9.0%;
Hourly earnings of 5.2% vs. the forecast 5.4%;
The proportion of the working-age population 65.2% vs. the forecast 65.0%.
USD/CAD, 30 min
Pivot: 1.3011
Analysis:
Provided that the currency pair is traded below 1.3045, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.3011
- Take Profit 1: 1.2990
- Take Profit 2: 1.2960
Alternative scenario:
In case of breakout of the level 1.3045, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3045
- Take Profit 1: 1.3070
- Take Profit 2: 1.3090
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 1.3090 | 1.2990 |
| 1.3070 | 1.2960 |
| 1.3045 | 1.2930 |
USD/CAD, D1
Pivot: 1.3039
Analysis:
While the price is below 1.3250, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3039
- Take Profit 1: 1.2900
- Take Profit 2: 1.2790
Alternative scenario:
If the level 1.3250 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3250
- Take Profit 1: 1.3420
- Take Profit 2: 1.3580
Comment:
RSI shows the possibility of the downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.1700 | 1.1100 |
| 1.1565 | 1.0990 |
| 1.1451 | 1.0880 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.1860 with 1.1935 and 1.1950 targets as Take Profit. Alternative scenario - if the level 1.1860 is broken-down, sell with the TP 1.1840 and 1.1810.
GBP/USD - long positions above 1.3145 with 1.3230 and 1.3260 targets as Take Profit. Alternative scenario - if the level of 1.3145 is broken down, sell with the targets 1.3110 and 1.3090 as Take Profit.
AUD/USD – buy above 0.7265 with 0.7310 and 0.7330 as Take Profit targets. Alternative scenario - if the level of 0.7265 is broken-out, you should consider buying with the targets 0.7245 and 0.7225 as Take Profit.
