FxWirePro: GBP/NZD downside pressure builds, key support levels in focus 
FxWirePro: GBP/AUD bears maintain upper hand 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25% 
FxWirePro: EUR/NZD downside pressure builds, key support level in focus 
FxWirePro- Woodies pivot (Major) 
FxWirePro: GBP/AUD under pressure as pound continues to weaken 
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption 
Crypto Bias Report: Trend Signals and Top Bullish Picks 
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish 
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: USD/CNY edges higher but bulls lack punch 
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level 
FxWirePro- USDCAD Daily Outlook
Intraday bias - Neutral
USDCAD lost more than 100 pips after upbeat Canadian jobs data. The economy has added 150000 jobs in Jan, well above the forecast of 15000. The unemployment rate dropped to 5% vs an estimate of 5.1%. It hits a low of 1.33377 and is currently trading around 1.33560
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in Feb declined to 90.8% from 96.70% a day ago.
The US 10-year yield trades higher for the third consecutive week. Any break and close above 3.69% confirm minor bullishness. The yield spread between 10 and 2-year widened to -82 basis points from -79.40 bpbs.
Technically in the 4-Hour chart, the pair is holding below the short-term( 21- EMA), 55 EMA, and the long-term moving average of 1.34233 (200- EMA). Any violation below 1.3300 confirms further bearishness. A dip to 1.3260/1.3220 is possible.
WTI crude oil hits a two-week high as Russia plans to cut output. Any daily close above $80 will push oil prices up to $85.
The near-term resistance is around 1.3380 and any breach above targets is 1.3435/1.3470/1.3520.
Indicators (4-Hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to buy on dips around 1.3350 with SL around 1.3300 for a TP of 1.3525.
a
