Delving into the 1-hour timeframe chart, the pivotal resistance zone lies within the boundaries of 1.37656-1.38618, denoted by a conspicuous red rectangle. Meanwhile, key levels support are established at 1.36501-1.36318, demarcated within an orange rectangle. The continued positioning of the EMA 50 above the EMA 200 underscores the prevailing bullish control over the market. Additionally, the MACD signal maintains a stance above the zero line, further fortifying the overarching bullish trend.
Canada's Employment Change for August 2023: Projections indicate a positive shift of 15,000 jobs, contrasting the prior -16,400.
Canada's Unemployment Rate for August 2023: Forecasts suggest a rate of 5.6%, a modest increase from the previous 5.5%.
US Wholesale Inventories for July 2023 (Preliminary): Expectations hover around a marginal decrease of -0.1%, mirroring the preceding -0.1% figure.
These economic releases promise to be pivotal factors shaping market dynamics and warrant vigilant observation throughout the trading day.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.