The USD/CAD pair rose during the course of the session on Friday, breaking to a fresh new high at one point during the session.
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Gold prices sank nearly 2% on Friday to settle at their lowest level since August 7 as robust U.S. economic data fed expectations that the Federal Reserve could begin altering monetary policy in December.
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Gold prices declined for a seventh straight session on Thursday to settle at their lowest level since mid-September as the prospect of a December rate hike by the Federal Reserve continued to depress the demand for the precious metal.
The EUR/USD pair initially fell during the course of the day on Thursday, but as you can see turned back around to form a nice-looking hammer.
The NZD/USD pair initially tried to rally during the course of the session on Thursday, but turned back around to fall significantly. By doing so, we formed a shooting star that of course is a negative sign.
I believe that the USD/CAD pair has the most likelihood of producing a massive trade on Friday. This is because of course we have the Nonfarm Payroll Numbers coming out of the United States, but we also have Employment Numbers coming out of Canada.
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The USD/JPY pair initially rose during the course of the day on Thursday, breaking above the 122 handle. However, we ended up finding enough resistance above there to turn the market back around and form a shooting star.
Get today's NZD/USD Forex signal for November 5, 2015 here.
Get the AUD/USD Forex signal for November 5, 2015 here.
Check out the USD/JPY Forex signal for November 5, 2015 here.
Get the USD/CAD Forex signal for November 5, 2015 here.
Check out the USD/CHF Forex signal for November 5, 2015 here.