{"id":109019,"date":"2017-07-14T09:25:20","date_gmt":"2017-07-14T13:25:20","guid":{"rendered":"http:\/\/countingpips.com\/?p=109019"},"modified":"2017-07-14T08:50:57","modified_gmt":"2017-07-14T12:50:57","slug":"daily-market-report-usdcad-can-buyers-take-it-higher-july-14-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/daily-market-report-usdcad-can-buyers-take-it-higher-july-14-2017\/","title":{"rendered":"Daily Market Report \u2013 USD\/CAD can buyers take it higher? July 14, 2017"},"content":{"rendered":"
July 14, 2017<\/div>
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By<\/b> Mexgroup.com<\/a><\/p>\n

USD\/CAD posted humble gains<\/strong><\/p>\n

The Loonie has lost little ground versus the greenback in the morning, the minor increase was somehow expected after the amazing drop. Has found temporary and now is struggling to recover, but is still under immense selling pressure.<\/p>\n

Right now we don\u2019t have a reversal sign, but we may have one in the upcoming days if the United States economic data will come in line with expectations or better. USD\/CAD is trading right above two important support level and above the 1.2700 psychological level.<\/p>\n

\"USDCAD\"<\/a><\/p>\n

Is trading near 1.2730 level, but is losing altitude again after the morning increase, we\u2019ll see what will happen in the upcoming hours because the US is to release high impact data. The fundamental factors will take the lead, so you should be careful because we may have a high volatility.<\/p>\n

The US CPI could increase by 0.1% in June and could jump in the positive territory after the 0.1% drop in May, while the Core CPI may increase by 0.2% in the previous month and could beat the 0.1% in the former reading period. Moreover, the greenback could receive support also from the Retail Sales, which could increase by 0.1%, the indicator dropped by 0.3% in the previous reading period, the Core Retail Sales are expected to increase by 0.2% and could boost the greenback, which could dominate the currency market on the short term.<\/p>

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The Capacity Utilization Rate and the Industrial Production will be released as well later, you should keep and eye on the economic calendar because the high impact data could shake the markets. A disappointment will send the USD tumbling, so maybe will be better to stay away during the data release.<\/p>\n

USD\/CHF breakout needs confirmation<\/strong><\/p>\n

The USD\/CHF managed to jump above a dynamic resistance, even if the USDX is trading in the red right now. USDX moves in range, but remains to see if this will be an accumulation or a distribution movement.<\/p>\n

\"USDCHF\"<\/a><\/p>\n

Has resumed the minor rebound, but the breakout needs confirmation, the next upside targets are at the median line (ml) of the minor ascending pitchfork and higher at the median line (ML) of the descending pitchfork. Right now we don\u2019t have a any trading opportunity, we\u2019ll have a buying opportunity only if the rate will come back down to retest the lower median line (lml) of the minor ascending pitchfork.<\/p>\n

AUD\/USD seems unstoppable \u00a0<\/strong><\/p>\n

AUD\/USD extends the latest gains and climbed above a major static resistance, remains to see if this will be a valid one because the US numbers could force the rate to decrease in the upcoming hours. Price \u00a0is strongly bullish and looks determined to hit fresh new highs. Technically should increase further, but a USDX\u2019s rally will help the sellers to take the lead again.<\/p>\n

\"AUDUSD\"<\/a><\/p>\n

Is trading above the 0.7755 major static resistance, but is premature to say that will have a valid breakout. I\u2019ve drawn an up sloping red line where he could find resistance again. A failure to climb above the red line will signal an exhaustion and a reversal on the short term.<\/p>\n

By Olimpiu Tuns<\/strong><\/p>\n

Market Analyst <\/strong><\/p>\n

Risk Disclaimer:<\/span><\/em><\/p>\n

Trading in general is very risky and is not suited for everyone. There is always a chance of losing some or all of your initial investment\/deposit, so do not invest money you can afford to lose. You are strongly advised to carry out your independent research before making any trading decisions.\u00a0 All the analysis, market reports posted on this site are only educational and do not constitute an investment advice or recommendation to open or close positions on international financial markets. The author is not responsible for any loss of profit or damage which may arise from transactions made based on any information on this web site.<\/span><\/em><\/p>\n

The post Daily Market Report \u2013 USD\/CAD can buyers take it higher? July 14, 2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com USD\/CAD posted humble gains The Loonie has lost little ground versus the greenback in the morning, the minor increase was somehow expected after the amazing drop. Has found temporary and now is struggling to recover, but is still under immense selling pressure. Right now we don\u2019t have a reversal sign, but we may […]<\/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-109019","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109019","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=109019"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109019\/revisions"}],"predecessor-version":[{"id":109024,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109019\/revisions\/109024"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}