U.S employment data & price action opportunity with canadian dollar – Health and Me

U.S employment data & price action opportunity with canadian dollar

Forex Price Action zone

We are approaching for october us employment data & perhaps the one to focus before next fed meet to raise the expectations of next fed rate hike. But I really don’t put my focus on fundamentals as its always the charts which draw my attention. Recent choppiness has not provide any clear price action opportunity as price has been paused after big moves looking for market to respond and we can witness strong volatility when data will be released.

Price Action is looking reaction in Usd/cad cross.

I always look for recent trend strengths and see if there is cautious recovery is on proceed to look for opportunity to trade with the trend.  I have explore few charts ahead of the NFP reports and found usd/cad lovers looking for breach of important support of 1.2300 & then you can short on return it but it entirely depends on Pa how it approach the support but a classic trade opportunity is waiting to be traded.

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