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

• US NFP Report: The US NFP Report for October is predicted to show 312K job additions and an unemployment rate of 4.2%. Forex traders can compare this to the US NFP Report for September which showed 33K job losses and an unemployment rate of 4.2%. Private Payrolls for October are predicted to show 300K job additions and Manufacturing Payrolls 18K job additions. Forex traders can compare this to Private Payrolls for September which showed 40K job losses and to Manufacturing Payrolls which showed 1K job losses. The Average Work Week for October is predicted at 34.4 hours. Forex traders can compare this to the Average Work Week for September which was reported at 34.4 hours. Average Hourly Earnings for October are predicted to increase by 0.2% monthly and by 2.7% annualized. Forex traders can compare this to Average Hourly Earnings for September which increased by 0.% monthly and by 2.9% annualized.
• US Trade Balance: The US Trade Balance for September is predicted at -$43.3B. Forex traders can compare this to the US Trade Balance for August which was reported at -$42.4B.
• US ISM Non-Manufacturing PMI: US ISM Non-Manufacturing PMI for October is predicted at 58.5. Forex traders can compare this to the US ISM Non-Manufacturing PMI for September which was reported at 59.8.
• US Factory Orders: US Factory Orders for September are predicted to increase by 1.2% monthly. Forex traders can compare this to US Factory Orders for August which increased by 1.2% monthly.
• US Markit Services PMI and Markit Composite PMI: The US Final Markit Services PMI for October is predicted at 55.9. Forex traders can compare this to the first US Markit Services PMI for October which was reported at 55.9. The US Final Markit Composite PMI for October is predicted at 55.7. Forex traders can compare this to the first US Markit Composite PMI for October which was reported at 55.7.

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

• Canadian International Merchandise Trade Balance: The Canadian International Merchandise Trade Balance for September is predicted at -C$2.95B. Forex traders can compare this to the Canadian International Merchandise Trade Balance for August which was reported at -C$3.41B.
• Canadian Employment Report: The Canadian Employment Report for October is predicted to show the addition of 15,000 jobs and an Unemployment Rate of 6.2%. Forex traders can compare this to the Canadian Employment Report for September which showed the creation of 10,000 jobs and an Unemployment Rate of 6.2%.

Should price action for the USDCAD remain inside the or breakdown below the 1.2820 to 1.2850 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.2835
• Take Profit Zone: 1.2080 – 1.2130
• Stop Loss Level: 1.2950

Should price action for the USDCAD breakout above 1.2850 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.2875
• Take Profit Zone: 1.2975 – 1.3000
• Stop Loss Level: 1.2820

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