{"id":62106,"date":"2014-10-17T14:08:43","date_gmt":"2014-10-17T18:08:43","guid":{"rendered":"http:\/\/countingpips.com\/?p=62106"},"modified":"2014-10-17T14:15:47","modified_gmt":"2014-10-17T18:15:47","slug":"eurcad-slips-lower-after-canadian-cpi","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/eurcad-slips-lower-after-canadian-cpi\/","title":{"rendered":"EUR\/CAD Slips Lower After Canadian CPI"},"content":{"rendered":"<div id=\"inves-2121764812\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 17, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Euro stayed soft on Friday, losing some ground against a basket of currencies;<\/li>\n<li>Canadian Dollar reactions to a better than expected Core CPI, 0.2% vs consensus of 0.1%, were slightly bullish;<\/li>\n<li>EUR\/CAD is slowly drifting lower, targeting a Higher Low before the uptrend resumes.<\/li>\n<\/ul>\n<p><em>EUR\/CAD was unable to stabilize above 1.4420\/40 after a volatile 3-day rally, caving on profit taking as traders are ready to call it a week.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>EUR\/CAD provided an excellent trading opportunity on Monday when price rallied above 1.4245 pivot, changing from a consolidation phase to bullish. This direction change quickly triggered a stop hunt, hitting the main target at <em>1.4420\/40 shortly afterwards<\/em><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/EURCAD17thOct.png\" alt=\"EURCAD17thOct\" \/><\/p>\n<p><em>Now that we have a Higher High in place, we can begin to consider EUR\/CAD bullish. Finding a Higher Low is the next logical step for traders, since everybody will be looking to buy the dips at this point. EUR\/CAD spot is currently trading around 1.4392, up from a low point of 1.4323 from earlier today. While below 1.4420, we expect the pair to continue lower towards 1.4245\/55, or even 1.4200, where we can spot large support clusters \u2013 areas where bounces are most likely to occur.<\/em><\/p><div id=\"inves-449730678\" 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>Overall we remain bullish on EUR\/CAD going into next week, especially if a Higher Low is formed and bullish price action confirms the bounce. While choppy price action might dominate between 1.4255 \u2013 1.4440, above this range we expect to see a continuation towards 1.4725 in the near future.<\/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 Key Takeaways Euro stayed soft on Friday, losing some ground against a basket of currencies; Canadian Dollar reactions to a better than expected Core CPI, 0.2% vs consensus of 0.1%, were slightly bullish; EUR\/CAD is slowly drifting lower, targeting a Higher Low before the uptrend resumes. EUR\/CAD was unable to stabilize above [&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-62106","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62106","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=62106"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62106\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}