{"id":12602,"date":"2010-09-02T09:45:23","date_gmt":"2010-09-02T13:45:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12602"},"modified":"2010-09-02T09:45:23","modified_gmt":"2010-09-02T13:45:23","slug":"eurcad-consolidating-towards-1-3700","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/02\/eurcad-consolidating-towards-1-3700\/","title":{"rendered":"EUR\/CAD Consolidating towards 1.3700"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong> &#8211; The euro has been regaining its composure against its smaller North American counterpart due to recently <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/09\/02\/eur-and-gbp-boosted-due-to-higher-risk-appetite\/\">boosted risk appetite<\/a>. The Canadian dollar, to the contrary, has been under pressure lately due to a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/09\/01\/will-crude-oil-reach-a-2-month-low\/\">decline in crude oil futures<\/a> as well as concerns that growth in the Canadian economy may be  stagnating. As a result, we can see the value of the EUR gaining against  the loonie in a consolidating wedge formation.<\/p>\n<p>&#8211; We can see on the daily chart below  that the price has indeed been trading within a wedge formation which  began in June. The price is currently finding support near 1.3400.<\/p>\n<p>&#8211; The upper barrier of this consolidation point also rests at the  38.2% Fibonacci retracement line. The consolidation price target appears  to be 1.3700 and there is nothing in our technical indicators which  suggests this consolidation will not be met.<\/p>\n<p>&#8211; We can also see an ascending pattern on both the Stochastic (slow)  and MACD\/OsMA, which support the continued upward movement in the  direction of this consolidation level.<\/p>\n<p><strong>EUR\/CAD \u2013 Daily Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/EURCAD-Daily-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/EURCAD-Daily-Chart.JPG\" alt=\"\" width=\"590\" height=\"657\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                         may not be    suitable     for     all            investors.       There    is  a                       possibility           that             you   could          sustain a    loss       of  all     of       your                    investment and                  therefore  you             should   not          invest          money    that     you              cannot       afford to             lose.  You             should    be       aware     of        all       the       risks             associated     with          Foreign           Exchange           trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Greg Holden &#8211; The euro has been regaining its composure against its smaller North American counterpart due to recently boosted risk appetite. The Canadian dollar, to the contrary, has been under pressure lately due to a decline in crude oil futures as well as concerns that growth in the Canadian economy may be stagnating. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/02\/eurcad-consolidating-towards-1-3700\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/CAD Consolidating towards 1.3700&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12602","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=12602"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12602\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}