{"id":111851,"date":"2017-08-29T07:15:21","date_gmt":"2017-08-29T11:15:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=111851"},"modified":"2017-08-29T07:04:57","modified_gmt":"2017-08-29T11:04:57","slug":"usdcad-extended-its-short-term-downtrend-to-1-2444","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/usdcad-extended-its-short-term-downtrend-to-1-2444\/","title":{"rendered":"USDCAD extended its short term downtrend to 1.2444"},"content":{"rendered":"<div id=\"inves-1707150687\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 29, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><div class=\"entry-content\">\n<p>USDCAD extended its short term downtrend from 1.2778 to as low as 1.2444, facing the previous low support at 1.2413. A breakdown below this level could signal resumption of the downtrend from 1.3793 (May 5 high), then <a href=\"http:\/\/www.forexcycle.com\/special-focus\/113867-usdcad-broke-above-bearish-trend-line.html\">next target would be at 1.2300, followed by 1.2050<\/a>. Near term resistance is at the top trend line of the price channel on the 4-hour chart. A clear break above the channel resistance could indicate that the short term downtrend is complete, then the following upside movement could bring price back to test 1.2778 resistance.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-114157\" src=\"http:\/\/www.forexcycle.com\/wp-content\/uploads\/2017\/20170829_USDCAD_1.png\" alt=\"USDCAD 4-hour chart\" width=\"500\" height=\"300\" \/><\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>By <a href=\"http:\/\/ForexCycle.com\" target=\"_blank\" rel=\"noopener\">ForexCycle.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USDCAD extended its short term downtrend from 1.2778 to as low as 1.2444, facing the previous low support at 1.2413. A breakdown below this level could signal resumption of the downtrend from 1.3793 (May 5 high), then next target would be at 1.2300, followed by 1.2050. Near term resistance is at the top trend line [&hellip;]<\/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-111851","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111851","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=111851"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111851\/revisions"}],"predecessor-version":[{"id":111880,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111851\/revisions\/111880"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=111851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=111851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=111851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}