{"id":159102,"date":"2019-11-05T10:45:07","date_gmt":"2019-11-05T15:45:07","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=159102"},"modified":"2019-11-05T06:28:53","modified_gmt":"2019-11-05T11:28:53","slug":"oil-cad-analysis-getting-ready-for-the-publication-of-significant-statistics","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/11\/oil-cad-analysis-getting-ready-for-the-publication-of-significant-statistics\/","title":{"rendered":"OIL\/CAD Analysis: Getting ready for the publication of significant statistics"},"content":{"rendered":"<div id=\"inves-3801290009\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 5, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/strong><\/p>\n<p><strong>Getting ready for the publication of significant statistics<\/strong><\/p>\n<p>In this review, we suggest to consider the OIL vs. CAD personal composite instrument (PCI). It reflects the price dynamics of oil against the Canadian dollar. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en\/trading-conditions\/personal-instrument-pci\/oil-cad\">OIL\/CAD quotations<\/a> grow?<\/p>\n<p>The upward movement is observed with the oil price growth and the weakening of the Canadian dollar. The Bank of Canada kept the rate at 1.75% during its meeting on October 30, 2019. At the same time, the probability of its decline at the next meeting on December 4 increased to 25%. Lower rates may weaken the Canadian dollar. Important macroeconomic data will be published in Canada this week: September trade balance (November 5), Ivey PMI business activity indicator for October (November 6), and labor and construction data (November 8). Oil quotes are now growing pending the conclusion of the first trade agreement between the US and China, as well as due to good data on the US labor market. All this may indicate a reduction in the risks of a slowdown in the global economy.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/04-11-2019.png\" alt=\"OIL\/CAD\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe <b>OIL\/CAD: D1<\/b> is in a neutral trend around the 200-day moving average line. Various technical analysis indicators have generated signals to increase. Further growth of quotations is possible in case of successful completion of the US-Chinese trade negotiations and negative economic indicators in Canada.<\/p>\n<ul class=\"ul-tick\">\n<li>The <b>Parabolic indicator<\/b> demonstrates a signal to increase.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/bolinger-bands\">Bolinger bands<\/a> narrowed, indicating a volatility decrease . Both Bollinger Lines Slope Up.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/rsi\">RSI indicator<\/a> is above 50. It has formed a weak divergence to increase.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD indicator<\/a> gives a bullish signal.<\/li>\n<\/ul>\n<p>The bullish momentum may develop if <b>OIL\/CAD<\/b> exceeds the 200-day moving average line: 76.2. This level can be used as an entry point. The initial stop lose may be placed below the last 4 lower fractals, the lower Bollinger line and the Parabolic signal: 68. After opening a pending order, the stop shall be moved following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we are changing the potential profit\/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place a stop loss moving it in the direction of the trade. If the price meets the stop level (68) without reaching the order (76,2), we recommend to cancel the order: the market sustains internal changes that were not taken into account.<\/p><div id=\"inves-2521257416\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Buy<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Buy stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 76,2<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 68<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Getting ready for the publication of significant statistics In this review, we suggest to consider the OIL vs. CAD personal composite instrument (PCI). It reflects the price dynamics of oil against the Canadian dollar. Will the OIL\/CAD quotations grow? The upward movement is observed with the oil price growth and the weakening of [&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-159102","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159102","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=159102"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159102\/revisions"}],"predecessor-version":[{"id":159118,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159102\/revisions\/159118"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=159102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=159102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=159102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}