{"id":89617,"date":"2016-05-12T08:46:38","date_gmt":"2016-05-12T12:46:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=89617"},"modified":"2016-05-12T08:46:38","modified_gmt":"2016-05-12T12:46:38","slug":"usdcad-downtrend-still-intact","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/05\/usdcad-downtrend-still-intact\/","title":{"rendered":"USDCAD downtrend still intact"},"content":{"rendered":"
May 12, 2016<\/div>
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By Admiral Markets<\/b><\/p>\n

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As we could see on the previous Session Recap<\/a> webinar, USDCAD behaved exactly as planned giving us more than 150+ potential pips on a shorting scenario. Recent jump in oil prices by 3 % suggested another drop in USDCAD (remember the correlation – OIL up = CAD up = USDCAD down).<\/p>\n

Technically we can see lower highs and lower lows with a descending trend line that is holding the price from further rallies. Additionally, an inner trend line is making an X cross \u2122 with H4 further confirming the bearish outlook. We have 2 POCs for possible positional short trades, with continuation and breakout setup.<\/p>\n

POC comes within 1.2865-1.2880 zone (H3,DPP, trend line) while POC2 comes within 1.2900-1.2915 zone (X cross \u2122, H4, EMA89). based on historical vs now moment concept and POCs we could expect sellers there.<\/p>\n

However if the price doesn’t pull back towards POC a strong momentum break below 1.2820 or 1h close below it, will aim for 1.2788 and 1.2738-30 subsequently.<\/p>\n

Follow @TarantulaFX<\/a> on twitter for latest market updates<\/p>

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\"Oil\"<\/a><\/p>\n

Article by Admiral Markets<\/b><\/p>\n

Source: USDCAD downtrend still intact<\/a><\/p>\n

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Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Admiral Markets As we could see on the previous Session Recap webinar, USDCAD behaved exactly as planned giving us more than 150+ potential pips on a shorting scenario. Recent jump in oil prices by 3 % suggested another drop in USDCAD (remember the correlation – OIL up = CAD up = USDCAD down). Technically […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-89617","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89617","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=89617"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89617\/revisions"}],"predecessor-version":[{"id":89618,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89617\/revisions\/89618"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=89617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=89617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=89617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}