# USDCAD Ascending Trend Line (Dec 19, 2014) Source: https://www.tradersway.com/resources/market-info/usdcad-ascending-trend-line-dec-19-2014/ Language: en Updated: 2014-12-19 Description: Explore USDCAD Ascending Trend Line (Dec 19, 2014). USDCAD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. USDCAD has been on a short-term uptrend, as shown by the ascending trend line connecting the pair’s recent lows. Price looks ready to make a test of the trend line for now and may bounce off support, as this lines up with the 38.2% Fibonacci retracement level. Stochastic is moving out of the oversold area, indicating that buyers are about to take control of price action. If the pair resumes its climb, it could move up to the resistance around the previous highs at 1.1670. Stronger buying pressure could even lead to a break past those levels and a move towards the 1.1700 major psychological mark. A deeper retracement could still be possible, as there are support zones located at the 50% to 61.8% Fib levels. These line up with the 1.1550 minor psychological mark and 1.1500 major psychological level respectively, both of which could have a lot of buy orders located. Event risks for this trade today include the release of Canadian retail sales and CPI. Headline CPI is expected to show a 0.2% decline, mostly due to falling oil prices, while core CPI might print at 0.1% uptick. Headline retail sales could see a 0.4% drop while core retail sales could indicate a 0.2% rise. Stronger than expected data could lead to more Loonie rallies, which might be enough to trigger a downside break of the rising trend line support. Bear in mind though that there are no economic reports from the US, suggesting that the safe-haven dollar might react mostly to risk sentiment. ![USDCAD Ascending Trend Line (Dec 19, 2014)] For now, demand for the Greenback is strong as the Fed showed a bit of inclination for considering tightening monetary policy next year. While their recent FOMC statement indicated that they’re still keeping rates low for a considerable time, they also mentioned that they’re being patient in looking into rate hikes. *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/usdcad-ascending-trend-line-dec-19-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/usdcad-ascending-trend-line-dec-19-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/usdcad-ascending-trend-line-dec-19-2014/", "headline": "USDCAD Ascending Trend Line (Dec 19, 2014)", "inLanguage": "en", "datePublished": "2014-12-19T06:21:29+00:00", "dateModified": "2014-12-19T06:21:29+00:00", "articleSection": "Market Info", "description": "Explore USDCAD Ascending Trend Line (Dec 19, 2014). USDCAD has been. 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/usdcad-ascending-trend-line-dec-19-2014/#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": "USDCAD Ascending Trend Line (Dec 19, 2014)", "item": "https://www.tradersway.com/resources/market-info/usdcad-ascending-trend-line-dec-19-2014/" } ] } ] } ``` ```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" } } ] } ```