{"id":76287,"date":"2015-08-04T07:15:44","date_gmt":"2015-08-04T11:15:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=76287"},"modified":"2015-08-04T07:28:28","modified_gmt":"2015-08-04T11:28:28","slug":"usdcad-breaks-out-on-commodity-route","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/usdcad-breaks-out-on-commodity-route\/","title":{"rendered":"USD\/CAD Breaks Out on Commodity Route"},"content":{"rendered":"<div id=\"inves-1008348740\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 4, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The USD\/CAD consolidated no Tuesday following a breakout on Monday to a fresh 10-year high.\u00a0 Declining commodity prices have pushed the Bank of Canada into a corner where they are likely to feel pressure to add growth insurance with another ease of rates.<\/p>\n<p>Looking ahead, Canadian employment and trade data will highlight as the markets reopen after Monday\u2019s civic holiday. The U.S. employment figure scheduled for Friday could be a further catalyst if wage growth appears.\u00a0 The recent release of manufacturing data in the U.S. was mixed with the ISM dipping slightly while the Markit PMI edged higher.<\/p>\n<p>The technicals reflect a breakout with the USD\/CAD poised to make a run at the 2004 highs at 1.4020. Support on the currency pair is seen near the gapp on Monday at 1.3090 and then the 10-day moving average at 1.3040.<\/p>\n<p>Momentum has turned higher with the MACD (moving average convergence divergence) index generating a buy signal.\u00a0 This occurs as the spread (the 12-day moving average minus the 26-day moving average) crossing above the 9-day moving average of the spread.\u00a0 The index moved from negative to positive territory confirming the buy signal.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/cad-080415.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8553\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/cad-080415-300x194.jpg\" alt=\"cad-080415\" width=\"300\" height=\"194\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p><div id=\"inves-1868913115\" 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><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The USD\/CAD consolidated no Tuesday following a breakout on Monday to a fresh 10-year high.\u00a0 Declining commodity prices have pushed the Bank of Canada into a corner where they are likely to feel pressure to add growth insurance with another ease of rates. Looking ahead, Canadian employment and trade data will highlight [&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-76287","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76287","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=76287"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76287\/revisions"}],"predecessor-version":[{"id":76290,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76287\/revisions\/76290"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=76287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=76287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=76287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}