{"id":62600,"date":"2014-10-27T12:33:14","date_gmt":"2014-10-27T16:33:14","guid":{"rendered":"http:\/\/countingpips.com\/?p=62600"},"modified":"2014-10-27T12:38:54","modified_gmt":"2014-10-27T16:38:54","slug":"eurcad-bulls-gain-momentum-as-oil-slides-lower","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/eurcad-bulls-gain-momentum-as-oil-slides-lower\/","title":{"rendered":"EUR\/CAD Bulls Gain Momentum As Oil Slides Lower"},"content":{"rendered":"<div id=\"inves-1556073892\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 27, 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 starts the week with a bullish bias despite disappointing German Ifo Business Climate;<\/li>\n<li>Canadian Dollar slips lower against a basket of currencies as oil suffers more losses;<\/li>\n<li>With a Higher Low in place at 1.4160, this week EUR\/CAD should target 1.4420 \u2013 1.4500.<\/li>\n<\/ul>\n<p><em>EUR\/CAD recovered above 50-Day Simple Moving Average in the early trading hours on Monday, showing strong intentions of resuming October\u2019s uptrend now that a Higher Low is priced in.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/EURCAD27thOctober.png\" alt=\"EURCAD27thOcto\" \/><\/p>\n<p>Spot is trading near 1.4300 in the first half of 27<sup>th<\/sup>\/10 U.S. trading session as EUR\/CAD is showing strong bullish intentions for the 2<sup>nd<\/sup> consecutive day. In our previous analysis we expected a correction after price failed to overcome and stabilize above 1.4460; however last week\u2019s tumble overshot our support target at 1.4245\/55. Fortunately for technical traders, no Daily bars closed below 61.8% Fibonacci line at 1.4197, leaving doors open for an uptrend continuation.<\/p>\n<p>Stochastic has also retraced from overbought territory last week, indicating plenty of upside room in the days and weeks to come. Buyers will target immediate resistance at 1.4420, where 100-Day Simple Moving Average and the lower end of a large pivot zone mark represent the main attraction area. A break above 1.4420 should lead to additional rallies, first to 1.4500 and later above.<\/p><div id=\"inves-2241548423\" 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>This bullish scenario will be invalidated only if EUR\/CAD will dip and price in a Daily close below 1.4200, in which case we will likely face yet another trend reversal and a quick re-test of 1.4000.<\/p>\n<p>*********<br \/>\nPrepared by Alex, 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","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways Euro starts the week with a bullish bias despite disappointing German Ifo Business Climate; Canadian Dollar slips lower against a basket of currencies as oil suffers more losses; With a Higher Low in place at 1.4160, this week EUR\/CAD should target 1.4420 \u2013 1.4500. EUR\/CAD recovered above 50-Day Simple Moving [&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-62600","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62600","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=62600"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62600\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}