{"id":24109,"date":"2011-09-27T14:10:34","date_gmt":"2011-09-27T18:10:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=24109"},"modified":"2011-09-27T14:10:34","modified_gmt":"2011-09-27T18:10:34","slug":"us-dollarcanadian-dollar-technical-update-27911","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/09\/27\/us-dollarcanadian-dollar-technical-update-27911\/","title":{"rendered":"US Dollar\/Canadian Dollar Technical Update 27\/9\/11"},"content":{"rendered":"<p>USD\/CAD Technical Update<\/p>\n<p>The USD\/CAD currency pair has mounted a serious recovery after forming multi-year lows this April.\u00a0 The potential is still there for subsequent increases, even though the currency pair has had little in the form of a move to the downside; the higher time frame charts reveal we are still running close to major support.<\/p>\n<p><strong style=\"font-weight: bold;\">A technical analysis overview of USD\/CAD follows below. J<\/strong><strong style=\"font-weight: bold;\">oin us at our <a href=\"http:\/\/www.forex-fx-4x.com\/forum\">forex forum<\/a> to look at this and other currency pairs.<\/strong><\/p>\n<p><em style=\"font-style: italic;\"><strong style=\"font-weight: bold;\">USD\/CAD Daily Chart Shows Parity Aligned With High and Low Timeframe Fib Confluence<\/strong><\/em><\/p>\n<p><a style=\"color: #333333; outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; font-style: normal; font-weight: normal;\" href=\"http:\/\/www.forex-fx-4x.com\/wp-content\/uploads\/2011\/09\/usdcaddailychartfibconfluence20110927_1459.png\"><img loading=\"lazy\" decoding=\"async\" style=\"display: inline; border: 0px initial initial;\" title=\"usdcad daily chart fib confluence 2011-09-27_1459\" src=\"http:\/\/www.forex-fx-4x.com\/wp-content\/uploads\/2011\/09\/usdcaddailychartfibconfluence20110927_1459_thumb.png\" alt=\"usdcaddailychartfibconfluence20110927 1459 thumb USD\/CAD AT Significant Resistance Area 27\/9\/11 Analysis\" width=\"550\" height=\"396\" \/><\/a><\/p>\n<ul style=\"padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 35px; margin-top: 20px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; list-style-type: disc; list-style-position: initial; list-style-image: initial;\">\n<li style=\"margin-top: 0px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; list-style-type: disc; list-style-position: initial; list-style-image: initial; padding: 0px;\">The\u00a0<a style=\"color: #333333; outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; font-style: normal; font-weight: normal;\" href=\"http:\/\/www.forex-fx-4x.com\/double-bottom-formation-developing-on-usdcad\/\" target=\"_blank\">USD\/CAD double bottom<\/a>\u00a0has nearly reached the classical projection target located near the 1.0435 level.<\/li>\n<li style=\"margin-top: 0px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; list-style-type: disc; list-style-position: initial; list-style-image: initial; padding: 0px;\">Price has now hit the confluence of the 1.0852 &gt; 0.9406 wave down 61.8% retrace and FE100 expansion of 0.9406 &gt; 1.0009 &gt; 0.9725.\u00a0 The pair looks to be resonating with the Fibonacci levels at present.<\/li>\n<li style=\"margin-top: 0px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; list-style-type: disc; list-style-position: initial; list-style-image: initial; padding: 0px;\">Any pullback, from this dynamic confluence level, could potentially see a retest of parity.\u00a0 The USD\/CAD 1.000 level is closely aligned with the 38.2% retrace of 0.9406 &gt; 1.0385 and a lower time frame 61.8% retrace which makes it an interesting area for USD\/CAD bulls to look for price action setups.<\/li>\n<li style=\"margin-top: 0px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; list-style-type: disc; list-style-position: initial; list-style-image: initial; padding: 0px;\">A failure to hold above parity would see price back in the range formed between the start of August thru mid September.<\/li>\n<li style=\"margin-top: 0px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; list-style-type: disc; list-style-position: initial; list-style-image: initial; padding: 0px;\">Last weeks total range was 555 pips.\u00a0 This is a significant increase compared to the\u00a0 AWR over 26 weeks which is 209 pips.<\/li>\n<\/ul>\n<p><em style=\"font-style: italic;\"><strong style=\"font-weight: bold;\">USD\/CAD Weekly Chart<\/strong><\/em><\/p>\n<p><a style=\"color: #333333; outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; font-style: normal; font-weight: normal;\" href=\"http:\/\/www.forex-fx-4x.com\/wp-content\/uploads\/2011\/09\/usdcadresistanceconfluence27_9_11.png\"><img loading=\"lazy\" decoding=\"async\" style=\"display: inline; border: 0px initial initial;\" title=\"usdcad resistance confluence 27_9_11\" src=\"http:\/\/www.forex-fx-4x.com\/wp-content\/uploads\/2011\/09\/usdcadresistanceconfluence27_9_11_thumb.png\" alt=\"usdcadresistanceconfluence27 9 11 thumb USD\/CAD AT Significant Resistance Area 27\/9\/11 Analysis\" width=\"550\" height=\"309\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CAD Technical Update The USD\/CAD currency pair has mounted a serious recovery after forming multi-year lows this April.\u00a0 The potential is still there for subsequent increases, even though the currency pair has had little in the form of a move to the downside; the higher time frame charts reveal we are still running close to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/09\/27\/us-dollarcanadian-dollar-technical-update-27911\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;US Dollar\/Canadian Dollar Technical Update 27\/9\/11&#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-24109","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24109","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=24109"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24109\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}