WEEKLY TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 21 NOVEMBER 2021

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WEEKLY TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 21 NOVEMBER 2021

WEEKLY SNAPSHOT

    Claimant Count Change (Oct), U.K.

    WHEN:                                               WHAT IT HAD INFLUENCED:

16th NOVEMBER 2021                            GBP and its subsequent pairs

WHAT HAPPENED: Claimant Count Change measures the change in the number of unemployed people in the U.K. during the reported month. A rising trend indicates weakness in the labour market, which has a trickle-down effect on consumer spending and economic growth.

GBPAUD is currently in the upward channel. Further upside can be seen in the coming week.

     Building Permits (Oct), U.S.

     WHEN:                                              WHAT IT HAD INFLUENCED:

     17th NOVEMBER 2021                            USD and its subsequent pairs

WHAT HAPPENED: Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.

USDCAD is currently in the upward channel. Further upside can be seen in the coming week.

Core Retail Sales (MoM) (Sep), CANADA

WHEN:                                              WHAT IT HAD INFLUENCED:

19th NOVEMBER 2021                           CAD and its subsequent pairs 

WHAT HAPPENED: Core Retail Sales measures the change in the total value of sales at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the Canadian economy.

CADJPY is currently in the downward channel. Further downside can be seen in the coming week.

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