Forex Analysis

Trading recommendations on 02/05/2016

Hello.Below is some advice on forex trading tomorrow 5.02.2016

Calendar anticipated events

16:30 US.Changing the number of people employed in non-agricultural sector
16:30 US.The unemployment rate
16:30 Canada.Employment Change
18:00 Canada.PMI


GVPUSDaili 5022016

on a pair GBPUSD rose to the level of 1.46000 and formed a Doji pattern.It may be a rebound, and a downward correction in the area of ​​1.44000.on the pattern of sales is not considered astrend starts up and does not want to go against him.


USDSADDaili 5022016

On USDCAD pair passed the level 1.3800 and below formed the Pin Bar.Transactions on the pattern of natural do not see, becausethey are against the trend.Maybe start a correction to the area of ​​1.4000, but may continue to fall, and without it, becauseadvantage on the side of buyers is due to fall on someone.

Fundamental analysis

Results of the week

dollar steadied in Asian trading on Friday, but remained in the way of weekly losses in anticipation of reading the employment fig

ures in the United States during the next session, discuss the prospects of further monetary tightening.

Dollar mired in two-week low against the yen, which has received positive impetus to the growth of the Bank of Japan has accepted negative interest rates last week.

key report on non-farm payrolls are expected to show that employers added 190,000 jobs in January.

But data released on Thursday showed that the number of Americans filing for unemployment benefits rose more than expected last week, suggesting that working conditions may be weaker than many assume.

The dollar traded around 116.73 yen in late North American trade, but near two-week low on Thursday at 116,525 yen and is ready for a weekly loss of about 3%.

euro weakened by about 0.1% to $ 1.1198, after rising by 1% during the session to $ 1.12390, the October peak.The single currency has grown by about 3.4% over the week.

dollar index rose about 0.1% to 96,563 after falling to 96,259 on Thursday, the lowest level since October.

Sterling, meanwhile, has just jumped over the one-month high after comments from Bank of England head Mark Carney regarding the actual prospects of interest rate cuts in the coming months.

However, sterling was trading down 0.1% today to $ 1.4571 from its high of $ 1.4672 on Thursday, staying on the road 2% weekly profit.

Aussie slipped 0.3% to $ 0.7179 after disappointing local data on retail sales.

However, the Australian was on the way to the acquisition of 1% growth of this trading week, moving to a one-month high of $ 0.7242 reached in the previous session.

Quarterly Report of the Reserve Bank of Australia released on Friday also foreshadowed some support for the country's currency.RBA again emphasized that any reduction in interest rates will depend on the employment data and whether the recent financial collapse of global markets and continue to put pressure on the global economy.