During the Asian session on Friday, USD / CAD is recovering after its decline the day before, caused by a weak report on jobless claims in the US, which rose for the second week in a row.
Today the March report of the Canadian labor market is released. Analysts expect unemployment to fall from 8.2% to 8.0%. Employment will increase by 100 thousand, which is less than 250 thousand in the previous month.
In the US, the producer price index for March will be released, and the Department of Agriculture will release a report on the current situation.
Bollinger Indicator Bands according to the chart, the daily formations are rebuilt in the horizontal direction.
The MACD histogram is just below the zero line, holding a weak buy signal, and may soon turn into positive territory.
Stochastic is growing, but over the past day, the indicator’s growth has slowed down.
With the breakdown of 1.2554, open short positions with a take profit of 1.2500. Set your stop loss at 1.2580.
In case of breakdown and consolidation above 1.2600, we return to buying with a take profit of 1.2700. Placing a stop loss at 1.2554.