{"id":61314,"date":"2014-10-02T14:28:23","date_gmt":"2014-10-02T18:28:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=61314"},"modified":"2014-10-02T14:31:55","modified_gmt":"2014-10-02T18:31:55","slug":"eurcad-seeks-exit-from-bearish-triangle","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/eurcad-seeks-exit-from-bearish-triangle\/","title":{"rendered":"EUR\/CAD Seeks Exit from Bearish Triangle"},"content":{"rendered":"<div id=\"inves-2637253852\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 2, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish Break-out<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>EUR\/CAD price action hints of a bullish break-out;<\/li>\n<li>Price rejected off 1.4011 after later springed higher following ECB Press Conference;<\/li>\n<li>Buyers currently aim for the first resistance area located at 1.4246.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>On Thursday Euro managed to rally against a basket of currencies including USD, GBP and CAD. EUR\/CAD has now formed a triple bottom and is looking to break a bearish swing configuration of Lower Highs.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/EURCAD2ndOctober.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-6860\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/EURCAD2ndOctober.png\" alt=\"EURCAD2ndOctober\" width=\"700\" height=\"340\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">EUR\/CAD has been trending lower all week, within certain boundaries on larger timeframes which show a large triangle pattern, until today when it briefly touched the 1.4000\/10 support area for the third time. The ensuing bullish reaction has lifted price just above the resistance trendline, priced at 1.4125, indicating a strong desire from buyers to continue higher in the following trading sessions. Further confirmation will come when the pair will exceed previous lower highs at 1.4160 and 1.4180, in order to break the bearish swing configuration of Lower Highs.<\/p>\n<p style=\"text-align: justify;\">Immediate resistance can be identified at 1.4246, where a large pivot zone formed throughout September is the main area of attraction. On 4H chart, the 200 Simple Moving Average will soon decline to the same level, further strengthening this pivot.\u00a0 If EUR\/CAD manages to move above 1.4250 as well, we could see buyers pushing for more gains toward 1.4400\/40 \u2013 one of the strongest pivot areas dating back to 2013.<\/p><div id=\"inves-376092975\" 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<p style=\"text-align: justify;\">Strong bearish rejections starting from any of the resistance areas mentioned above could trigger a swift and volatile return from bears. For now, 1.4010 remains the main target for all bearish reversals.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Break-out Key Takeaways EUR\/CAD price action hints of a bullish break-out; Price rejected off 1.4011 after later springed higher following ECB Press Conference; Buyers currently aim for the first resistance area located at 1.4246. On Thursday Euro managed to rally against a basket of currencies including USD, GBP and CAD. EUR\/CAD has [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61314","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61314","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=61314"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61314\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}