{"id":120278,"date":"2018-01-24T07:35:31","date_gmt":"2018-01-24T12:35:31","guid":{"rendered":"http:\/\/countingpips.com\/?p=120278"},"modified":"2018-06-01T15:43:50","modified_gmt":"2018-06-01T15:43:50","slug":"usd-cad-is-below-the-chuvashovs-fork","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/usd-cad-is-below-the-chuvashovs-fork\/","title":{"rendered":"USD\/CAD is Below the Chuvashov’s Fork"},"content":{"rendered":"
January 24, 2018<\/div>
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By Admiral Markets<\/b><\/p>\n

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Overnight support was found on Oil, as prices have begun to rise once again. This is positive for CAD relative to USD. The USD\/CAD is currently below both Weekly and Daily L4 support levels, indicating a strong downtrend. At this point, we can see that the price is trapped below the Chuvashov’s fork (magenta trend lines) and a retest of POC zone 1.2385-1.2400 could see some fresh shorts. However short term rejections are possible also around 1.2365 (blue dotted line). Target is Weekly L5 – 1.2322 where we could see some profit taking and a bounce. USD\/CAD long trades are possible if the fork is broken. The break of 1.2440 should be a potential long towards 1.2490 and 1.2544.<\/p>\n

W H3 -1.2055 should give another upside boost to the pair.<\/p>\n

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)<\/p>\n

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)<\/p>\n

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)<\/p>

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

D L3 \u2013 Daily Camarilla Pivot (Daily Support)<\/p>\n

D L4 \u2013 Daily H4 Camarilla (Very Strong Daily Support)<\/p>\n

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

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

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

Source: USD\/CAD is Below the Chuvashov’s Fork<\/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

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

By Admiral Markets Overnight support was found on Oil, as prices have begun to rise once again. This is positive for CAD relative to USD. The USD\/CAD is currently below both Weekly and Daily L4 support levels, indicating a strong downtrend. At this point, we can see that the price is trapped below the Chuvashov’s […]<\/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-120278","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120278","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=120278"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120278\/revisions"}],"predecessor-version":[{"id":120282,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120278\/revisions\/120282"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=120278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=120278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=120278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}