{"id":77415,"date":"2015-08-26T06:46:52","date_gmt":"2015-08-26T10:46:52","guid":{"rendered":"http:\/\/countingpips.com\/?p=77415"},"modified":"2015-08-26T07:09:08","modified_gmt":"2015-08-26T11:09:08","slug":"usdcad-breaks-out-as-momentum-gains-traction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/usdcad-breaks-out-as-momentum-gains-traction\/","title":{"rendered":"USD\/CAD Breaks Out as Momentum Gains Traction"},"content":{"rendered":"<div id=\"inves-3683246420\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 26, 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>Following recent volatility, USD\/CAD stabilized in early trade, moving inside a narrow band on either side of 1.3300 ahead of the North American open. The pairing was capped just under 1.3352 overnight. Since then, the modest recovery in oil prices supported the CAD, as has a much-improved risk backdrop, at least compared to Monday. Yields in the U.S. moved higher on Tuesday allowing the greenback to gain traction against the Loonie.<\/p>\n<p>The Bank of Canada\u2019s Schembri downplayed the risks posed by housing to financial market stability, saying that macro-prudential housing policy has contributed to a high degree macroeconomic and financial stability. He pronounced the risks stemming from the rise in household imbalances have been well managed by macro-prudential policies.<\/p>\n<p>The USD\/CAD currency pair broke out above 1.32 and is now on tract to test the highs last seen in 2004 at 1.3950.\u00a0 Momentum on the currency pair has turned positive with the MACD (moving average convergence divergence) index generating a buy signal. This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses 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-082615.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8838\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/cad-082615-300x194.jpg\" alt=\"cad-082615\" 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>\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><div id=\"inves-877729648\" 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","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Following recent volatility, USD\/CAD stabilized in early trade, moving inside a narrow band on either side of 1.3300 ahead of the North American open. The pairing was capped just under 1.3352 overnight. Since then, the modest recovery in oil prices supported the CAD, as has a much-improved risk backdrop, at least compared [&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-77415","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77415","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=77415"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77415\/revisions"}],"predecessor-version":[{"id":77419,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77415\/revisions\/77419"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}