{"id":104776,"date":"2017-04-13T06:59:12","date_gmt":"2017-04-13T10:59:12","guid":{"rendered":"http:\/\/countingpips.com\/?p=104776"},"modified":"2017-04-13T06:59:12","modified_gmt":"2017-04-13T10:59:12","slug":"%e2%80%8busdcad-abcd-pattern-marks-the-support","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/04\/%e2%80%8busdcad-abcd-pattern-marks-the-support\/","title":{"rendered":"\u200bUSD\/CAD ABCD Pattern Marks the Support"},"content":{"rendered":"
April 13, 2017<\/div>
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By Admiral Markets<\/b><\/p>\n

\"2017-04-13_11-01-31.jpg\"<\/p>\n

The rate cut wasn’t on the table yesterday as economic data in Canada has improved. Slightly hawkish stance of BOC’s chief Poloc reflected on the USD\/CAD, sending the dollar down straight to W L5 support. At this point, we see an ABCD pattern at D L3 support, so the break of 1.3250 could spur a correction towards 1.3300 where we see a bearish POC (ATR top, EMA89, bearish order block, W L4) within 1.3300-1.3320. Rejections from POC target 1.3220 and 1.3190.<\/p>\n

Keep in mind that if 1.3250 is not broken to the upside, we might see a straight drop below 1.3218 for 1.3190 and 1.3145 final D L5 target.<\/p>\n

Follow @TarantulaFX<\/a> on twitter for the latest market updates<\/p>\n

D L3 – Daily Camarilla Pivot (Daily Interim Support)<\/p>\n

D H3 – Daily Camarilla Pivot (Daily Interim Resistance)<\/p>

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D H4 – Daily Camarilla Pivot (Strong Daily Resistance)<\/p>\n

D L4 – Daily Camarilla Pivot (Very Strong Daily Support)<\/p>\n

D L5 – Daily Camarilla Pivot (Strongest Daily Support)<\/p>\n

W L5 – Weekly H4 Camarilla (Strongest Weekly Resistance)<\/p>\n

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)<\/p>\n

Article by Admiral Markets<\/b><\/p>\n

Source: \u200bUSD\/CAD ABCD Pattern Marks the Support<\/a><\/p>\n

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Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Admiral Markets The rate cut wasn’t on the table yesterday as economic data in Canada has improved. Slightly hawkish stance of BOC’s chief Poloc reflected on the USD\/CAD, sending the dollar down straight to W L5 support. At this point, we see an ABCD pattern at D L3 support, so the break of 1.3250 […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-104776","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/104776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=104776"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/104776\/revisions"}],"predecessor-version":[{"id":104777,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/104776\/revisions\/104777"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=104776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=104776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=104776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}