{"id":70765,"date":"2015-04-08T06:29:55","date_gmt":"2015-04-08T10:29:55","guid":{"rendered":"http:\/\/countingpips.com\/?p=70765"},"modified":"2015-04-08T07:40:57","modified_gmt":"2015-04-08T11:40:57","slug":"usdcad-forex-technical-analysis-april-08-2015","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/04\/usdcad-forex-technical-analysis-april-08-2015\/","title":{"rendered":"USDCAD: Forex Technical Analysis April 08, 2015"},"content":{"rendered":"<div id=\"inves-2722769482\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 8, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n<p>FOMC meeting<\/p>\n<p>Let\u2019s consider the <a href=\"http:\/\/www.ifcmarkets.com\/en\/market-data\/USDCAD\">USD\/CAD<\/a> currency pair on the H4 chart. The price approached the support level at 1.24205, which is confirmed by the bearish chart pattern called \u201ctriple bottom\u201d. The second important sign for the trend reversal is the bullish divergence of <a href=\"http:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/rsi-bars\">RSI-Bars<\/a> oscillator and a temporary reversal of Parabolic trend indicator. A weak consolidation of Donchian Channel also points out that a possible new volatility momentum might appear ahead of today\u2019s Federal Open Market Committee (FOMC) meeting.<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" style=\"float: none;\" src=\"http:\/\/www.ifcmarkets.com\/uploads\/images\/TA-08-04-2015.png\" alt=\"technical-analysis-charts-usd-cad\" width=\"400 px\" \/><\/p>\n<p>Buy position can be opened above the fractal resistance at 1.25312, which is confirmed by the bearish trend line, the upper Donchian Channel boundary and <a href=\"http:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/parabolic\">Parabolic<\/a> historical values. The lower boundary of the \u201ctriple bottom\u201d price pattern at 1.24205 can be used for placing Stop loss. This level is also strengthened by other indicators. Conservative traders are recommended to wait for the resistance breakout at 49% on the oscillator chart. Thus, all the analytical tools confirm the trend. After pending order placing, Stop loss is to be moved every four hours following Parabolic signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point.<\/p>\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 1.25312<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">below 1.24205<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/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>By IFCMarkets FOMC meeting Let\u2019s consider the USD\/CAD currency pair on the H4 chart. The price approached the support level at 1.24205, which is confirmed by the bearish chart pattern called \u201ctriple bottom\u201d. The second important sign for the trend reversal is the bullish divergence of RSI-Bars oscillator and a temporary reversal of Parabolic trend [&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-70765","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/70765","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=70765"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/70765\/revisions"}],"predecessor-version":[{"id":70768,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/70765\/revisions\/70768"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=70765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=70765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=70765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}