The Canadian dollar remains under pressure on Friday

The Canadian dollar remains under pressure on Friday, as USD/CAD continues to post gains this week. In the North American session, USD/CAD is trading at the 1.35 line. On the release front, there are no Canadian events on the schedule. In the US, today’s highlight is UoM Consumer Sentiment. The indicator is expected to edge lower to 87.4 points.•USD/CAD has been marked by choppy trading in the Asian session
•1.3457 is providing support
•There is resistance at 1.3551
Further levels in both directions:
•Below: 1.3457, 1.3371, 1.3253 and 1.3120
•Above: 1.3551, 1.3648 and 1.3782
•Current range: 1.3457 to 1.3551
USD/CAD ratio is unchanged in the Friday session. Currently, short positions command a strong majority (68%), indicative of trader bias towards USD/CAD reversing directions and moving to lower ground.

USD/CAD was flat in the Asian session.

•USD/CAD was flat in the Asian session. The pair has posted gains in European trade
•1.3457 remains busy. Currently, it is a weak support line
•There is resistance at 1.3551
Further levels in both directions:
•Below: 1.3457, 1.3371, 1.3253 and 1.3120
•Above: 1.3551, 1.3648 and 1.3782
•Current range: 1.3457 to 1.3551
USD/CAD ratio has shown slight movement towards long positions. Currently, short positions command a strong majority (67%), indicative of trader bias towards USD/CAD reversing directions and moving to lower ground.
USD/CAD continues to post strong gains in the Thursday session, following the upward movement seen on Wednesday. In the North American session, USD/CAD is trading at 1.3480. On the release front, Canadian NHPI posted slight gains of 0.2%, matching the forecast. In the US, unemployment claims dropped to 257 thousand, marking a 4-week low. On Friday, the US will release UoM Consumer Sentiment. The indicator is expected to edge lower to 87.4 points.

EUR/CHF chart

Summary :
Target Level : 1.073
Target Period : 2 days
Analysis :
Rectangle has broken through the support line at 09-Nov-17:00 2016 GMT. Possible bearish price movement forecast for the next 2 days towards 1.0730.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( B ) 1.0832Last resistance turning point of Rectangle.
Support Levels
( A ) 1.0752Last support turning point of Rectangle.

Chart date range : 25-Oct-08:00 GMT-> 10-Nov-09:00 GMT Data interval : 4 hour RSI: 34 Candles MA: 34 Candles

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Gold has posted strong gains in the Wednesday

Gold has posted strong gains in the Wednesday session, continuing the gains which marked the Tuesday session. In North American trade, the metal is trading above the $1305.38, the first time it’s crossed above the $1300 level since October 4. On the release front, ADP Nonfarm Employment dropped to 147 thousand, well short of the estimate of 166 thousand. Later in the day, the Federal Reserve concludes its policy meeting and is expected to maintain the benchmark interest rate at 0.25 percent. On Thursday, the US releases unemployment claims and the ISM Non-manufacturing PMI.

GBP/USD

Summary :
Target Level : 1.228
Target Period : 2 days
Analysis :
Ascending Triangle identified at 02-Nov-00:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.2280 within the next 2 days.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 1.228Last resistance turning point of Ascending Triangle.
Support Levels
( A ) 1.2215Last support turning point of Ascending Triangle.

Chart date range : 19-Oct-16:00 GMT-> 02-Nov-08:00 GMT Data interval : 4 hour RSI: 34 Candles MA: 34 Candles