Our free forex signals service today looks at the USD/CHF and we have the entry, stop and take profits levels for you. After trading at the low below 1.2500 in the previous week, the USD/CAD pair is cautious on Monday. The USD/CAD pair is currently trading at 1.2542, up 0.14% on the day. After disappointing US nonfarm payrolls (NFP) data, the US Dollar Index (DXY), which tracks the greenback against six major currencies, traded below 92.20, down 0.23%. Despite expectations of 750,000 jobs being created in August, the NFP reported only 235,000 jobs being created in the US economy. US Dollar slumped below 92.00 as a consequence of the huge gap. However, following the positive employment report, the dollar has strengthened substantially. As oil prices fell from $70 highs, the Canadian dollar also lost some of its gains. –Are you interested to learn more about day trading brokers? Check our detailed guide- The labor productivity of Canadian workers increased by 0.6% in the second quarter, following a 1.7% decline in the first quarter. There is a strong indication that the dollar will continue to depreciate. Still, it is important to monitor market sentiment closely since the turmoil in the US and Chinese economies could lead to a flight to safety. An episode of risk aversion would likely trigger higher volatility, damage high beta commodities (like oil), and put downward pressure on the Canadian dollar. Get FREE Forex Signals Now! This week, the Bank of Canada’s decision on interest rates will also pose a challenge to the Canadian dollar. In light of the unexpectedly weak second-quarter GDP (growth at 1.1% rather than 2.5% versus expectations), the central bank may adopt a more cautious stance on the economy. During the current quarter, the downside risks will intensify, and there is a possibility that the monetary policy statement will be reluctant. As a result, the output gap will take longer to close. But to remain in the shadows until after the upcoming early elections on September 20. In this context, the October session to accompany new macroeconomic forecasts may prove more relevant and flexible. Right now, traders are waiting for the Bank of Canada to announce its interest rate decision later this week. USD/CAD free forex signals Instrument: USD/CAD Order Type: SELL STOP Entry price: 1.2480 Stop Loss: 1.2585 TP1: 1.2268 Our Risk Setting: 1% Risk / Reward Ratio: 1:2 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Forex Trading Signals share Read Next Uniswap Price Prediction: Who’s Ready to Buy Above $29.50? Ali B. 1 year Our free forex signals service today looks at the USD/CHF and we have the entry, stop and take profits levels for you. After trading at the low below 1.2500 in the previous week, the USD/CAD pair is cautious on Monday. The USD/CAD pair is currently trading at 1.2542, up 0.14% on the day. After disappointing US nonfarm payrolls (NFP) data, the US Dollar Index (DXY), which tracks the greenback against six major currencies, traded below 92.20, down 0.23%. Despite expectations of 750,000 jobs being created in August, the NFP reported only 235,000 jobs being created in the US economy. US… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.