# USD/CAD Trend Line Retest (April 23, 2014) Source: https://www.tradersway.com/resources/market-info/usd-cad-trend-line-retest-april-23-2014/ Language: en Updated: 2014-04-23 Description: Explore USD/CAD Trend Line Retest (April 23, 2014). USD/CAD. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. USD/CAD recently broke below a rising trend line on its 4-hour time frame, thanks to weak US non-farm payrolls data and a downbeat FOMC meeting minutes release. However, the pair is showing signs of exhaustion from the selloff and may be ready to make a quick retracement before resuming its drop. The Fibonacci retracement levels on the 4-hour time frame line up with the broken trend line support and may act as resistance moving forward. Stochastic is moving down from the overbought zone, indicating selling momentum. ![USD/CAD Trend Line Retest (April 23, 2014)] Shorting at the 50% Fib, which is close to the 1.1100 major psychological resistance with a stop above the 61.8% Fib and a target of new lows could yield a good return on risk. Moving the stop to entry once price tests the previous lows around 1.0900 could help minimize exposure. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/usd-cad-trend-line-retest-april-23-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/usd-cad-trend-line-retest-april-23-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/usd-cad-trend-line-retest-april-23-2014/", "headline": "USD/CAD Trend Line Retest (April 23, 2014)", "inLanguage": "en", "datePublished": "2014-04-23T13:13:07+00:00", "dateModified": "2014-04-23T13:13:07+00:00", "articleSection": "Market Info", "description": "Explore USD/CAD Trend Line Retest (April 23, 2014). USD/CAD. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/usd-cad-trend-line-retest-april-23-2014/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "USD/CAD Trend Line Retest (April 23, 2014)", "item": "https://www.tradersway.com/resources/market-info/usd-cad-trend-line-retest-april-23-2014/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```