Here are the key factors to keep in mind today for US Dollar trades:

• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of June 17th are predicted at 240K and US Continuing Claims for the week of June 10th are predicted at 1,930K. Forex traders can compare this to US Initial Jobless Claims for the week of June 10tht which were reported at 237K and US Continuing Claims for the week of June 3rd which were reported at 1,935K.
• US House Price Index: The US House Price Index for April is predicted to increase by 0.5% monthly. Forex traders can compare this to US House Price Index for March which increased by 0.6% monthly.
• US Leading Indicators: US Leading Indicators for May are predicted to increase by 0.4%. Forex traders can compare this to US Leading Indicators for April which increased by 0.3%.

Here is the key factor to keep in mind today for Canadian Dollar trades:

• Canadian Retail Sales: Canadian Retail Sales for April are predicted to increase by 0.3% monthly and Canadian Retail Sales Less Autos are predicted to increase by 0.7% monthly. Forex traders can compare this to Canadian Retail Sales for March which increased by 0.7% monthly and to Canadian Retail Sales Less Autos which decreased by 0.2% monthly.

Should price action for the USDCAD remain inside the or breakout above the 1.3300 to 1.3350 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.3325
• Take Profit Zone: 1.3700 – 1.3775
• Stop Loss Level: 1.3125

Should price action for the USDCAD breakdown below 1.3300 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.3275
• Take Profit Zone: 1.3075 – 1.3125
• Stop Loss Level: 1.3350

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.