{"id":20878,"date":"2011-04-30T05:52:34","date_gmt":"2011-04-30T09:52:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20878"},"modified":"2011-04-30T05:52:34","modified_gmt":"2011-04-30T09:52:34","slug":"canadian-dollar-to-appreciate-some-more","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/30\/canadian-dollar-to-appreciate-some-more\/","title":{"rendered":"Canadian Dollar To Appreciate Some More?"},"content":{"rendered":"<p>&nbsp;<br \/>\n<a rel=\"nofollow\" href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/USDCAD-canadian-dollar-april-25-2011.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/USDCAD-canadian-dollar-april-25-2011-300x170.png\" alt=\"USDCAD, USD, CAD, us dollar, canadian dollar, loonie, hidden bearish divergence, ron acoba, daily forex picks\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p>It&rsquo;s  been awhile since I posted about the forex market. But guess  what? I&rsquo;m  back in the FX trading arena! So as I was scanning through  the charts of  the major currency, the USDCAD got my attention in a  snap!<\/p>\n<p>USDCAD&rsquo;s recent price action as can be seen in its 4-hour chart above   is one of the bread and butter set-ups that I often trade. You see,  the  US dollar has just rallied against the Canadian dollar or the  loonie as  some would call it after the USDCAD pair hit a low of 0.9454  last April  21. Notice, however, that its rise was halted by the  previous support  at around the 0.9550 area. In my opinion, the Canadian  dollar appreciate  some more against the USD in the near future due to a  couple of  technical factors. Aside from the previous  support-turned-resistance  that is blocking the USD&rsquo;s rise, conditions  are also overbought as  indicated by the stochastics. Moreover, a  presence of a hidden bearish  divergence, where the price registers  lower lows and the stochastics  mark higher highs, suggests a move  lower. If it does, then it could  revisit its previous low 0.9454. <\/p>\n<p> More on <a rel=\"nofollow\" href=\"http:\/\/www.laidtrades.com\/\" target=\"_blank\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; It&rsquo;s been awhile since I posted about the forex market. But guess what? I&rsquo;m back in the FX trading arena! So as I was scanning through the charts of the major currency, the USDCAD got my attention in a snap! USDCAD&rsquo;s recent price action as can be seen in its 4-hour chart above is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/04\/30\/canadian-dollar-to-appreciate-some-more\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Canadian Dollar To Appreciate Some More?&#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-20878","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20878","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=20878"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20878\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}