{"id":4125,"date":"2012-04-19T02:33:49","date_gmt":"2012-04-19T06:33:49","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4125"},"modified":"2012-04-19T02:33:49","modified_gmt":"2012-04-19T06:33:49","slug":"forex-canadian-loonie-and-aussie-dollar-2","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/19\/forex-canadian-loonie-and-aussie-dollar-2\/","title":{"rendered":"Forex: Canadian Loonie and Aussie Dollar"},"content":{"rendered":"<p>Canada&#8217;s Loonie continues its narrow consolidation, having withstood falling <a title=\"Crude Oil\" href=\"http:\/\/goldstocksforex.com\/2012\/04\/12\/crude-and-commodities-falling\/\" target=\"_blank\">crude oil prices<\/a> over the last two weeks. 63-Day Twiggs Momentum holding above zero indicates a primary up-trend. Breakout above $1.01\u00a0would signal a primary advance to the 2011 high of $1.06*. Failure of support at $0.995 is less likely but would warn of a correction to primary support at $0.95.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-04-19-cad.png?w=525&#038;ssl=1\" alt=\"Canadian Loonie\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.01 + ( 1.01 &#8211; 0.96 ) = 1.06<\/span><\/p>\n<p>Weaker <a title=\"CRB Commodities Index\" href=\"http:\/\/goldstocksforex.com\/2012\/04\/18\/crude-oil-and-commodities-correction\/\" target=\"_blank\">commodity prices<\/a> are dragging the Aussie Dollar lower. On the weekly chart we can see the Aussie testing medium-term support at $1.02. Respect of the zero line by 63-day Twiggs Momentum suggest a strong up-trend. In the longer term, breakout above $1.085 would offer a target of $1.20*.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-04-19-aud-weekly.png?w=525&#038;ssl=1\" alt=\"Aussie Dollar\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.08 + ( 1.08 &#8211; 0.96 ) = 1.20<\/span><\/p>\n<p>On the daily chart, the Aussie Dollar is testing resistance at $1.045. Breach of its descending trendline indicates that the correction has weakened. Recovery above\u00a0$1.045 would indicate the start of a fresh advance to test the 2012 high of\u00a0$1.085.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-04-19-aud-daily.png?w=525&#038;ssl=1\" alt=\"Aussie Dollar\" \/><\/p>\n<p>The Aussie Dollar is also retracing for another test of support against the South African Rand &#8212; at R7.90\/R8.00. Momentum has fallen sharply and failure of support would warn of a correction to the long-term ascending trendline, around R7.50.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-04-19-aud-zar.png?w=525&#038;ssl=1\" alt=\"Aussie Dollar\/South African Rand\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada&#8217;s Loonie continues its narrow consolidation, having withstood falling crude oil prices over the last two weeks. 63-Day Twiggs Momentum holding above zero indicates a primary up-trend. Breakout above $1.01\u00a0would signal a primary advance to the 2011 high of $1.06*. Failure of support at $0.995 is less likely but would warn of a correction to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/19\/forex-canadian-loonie-and-aussie-dollar-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex: Canadian Loonie and Aussie Dollar&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[38,40,7,34],"tags":[287,560,3184],"class_list":["post-4125","post","type-post","status-publish","format-standard","hentry","category-africa-south-america","category-australia-nz-countries-regions","category-forex","category-us-canada-countries-regions","tag-aussie-dollar","tag-canadian-loonie","tag-south-african-rand"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Forex: Canadian Loonie and Aussie Dollar - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex: Canadian Loonie and Aussie Dollar - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Canada&#8217;s Loonie continues its narrow consolidation, having withstood falling crude oil prices over the last two weeks. 63-Day Twiggs Momentum holding above zero indicates a primary up-trend. Breakout above $1.01\u00a0would signal a primary advance to the 2011 high of $1.06*. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-14x","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":3761,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/08\/aussie-dollar-canadian-loonie-and-commodities\/","url_meta":{"origin":4125,"position":0},"title":"Aussie Dollar, Canadian Loonie and commodities","author":"ColinTwiggs","date":"March 8, 2012","format":false,"excerpt":"The CRB Commodities Index retreated from resistance at 325. Failure of medium-term support at 310 would signal a test of primary support at 295. Respect of the zero line (from below) by 63-day Twiggs Momentum indicates continuation of the primary down-trend. Lower commodity prices weakened the Aussie Dollar, with a\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4027,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/04\/forex-aussie-dollar-canadas-loonie\/","url_meta":{"origin":4125,"position":1},"title":"Forex: Aussie Dollar &#038; Canada&#039;s Loonie","author":"Colin Twiggs","date":"April 4, 2012","format":false,"excerpt":"The Aussie Dollar broke medium-term support at $1.04 -- in response to lower than expected resources exports to China and RBA hints at further rate cuts. Expect a strong correction, testing parity and possibly primary support at $0.97. Reversal of 63-day Twiggs Momentum below zero would indicate trend weakness but\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4062,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/12\/forex-canadian-loonie-and-aussie-dollar\/","url_meta":{"origin":4125,"position":2},"title":"Forex: Canadian Loonie and Aussie Dollar","author":"Colin Twiggs","date":"April 12, 2012","format":false,"excerpt":"Canada's Loonie continues its narrow consolidation between $0.995 and $1.01 but falling crude prices warn that a correction is likely. Breakout below $0.995 and reversal of 63-day Twiggs Momentum below zero would both signal a correction. Upward breakout is currently unlikely but would signal a primary advance to $1.06*. *\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3818,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/15\/forex-australia-canada-and-south-africa\/","url_meta":{"origin":4125,"position":3},"title":"Forex: Australia, Canada and South Africa","author":"ColinTwiggs","date":"March 15, 2012","format":false,"excerpt":"A stronger greenback and weaker commodity prices are likely to depress resource-rich currencies. Canada's Loonie stood up surprisingly well, mainly because of rising crude oil prices. 63-Day Twiggs Momentum recovered above zero, indicating a primary up-trend. Breakout above $1.01 would strengthen the signal, offering a target of the 2011 high\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3676,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/01\/forex-aussie-dollar-canadian-loonie-and-south-african-rand\/","url_meta":{"origin":4125,"position":4},"title":"Forex: Aussie Dollar, Canadian Loonie and South African Rand","author":"ColinTwiggs","date":"March 1, 2012","format":false,"excerpt":"The Aussie and Canadian Dollar mirror the CRB Commodities Index, testing resistance at their long-term highs. The Aussie encountered resistance at $1.08. Breakout would confirm a primary up-trend -- already signaled by 63-day Twiggs Momentum above zero. * Target calculation: 1.08 + ( 1.08 - 0.96 ) = 1.20 Canada's\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5775,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/18\/forex-euro-pound-sterling-canadian-loonie-and-aussie-dollar\/","url_meta":{"origin":4125,"position":5},"title":"Forex: Euro, Pound Sterling, Canadian Loonie and Aussie Dollar","author":"Colin Twiggs","date":"October 18, 2012","format":false,"excerpt":"The Euro rallied off support at $1.28 and is headed for resistance at $1.32. Recovery of 63-day Twiggs Momentum above zero suggests a primary up-trend. Breakout above $1.32 would confirm, offering an immediate target of the 2012 high at $1.35. * Target calculation: 1.32 + ( 1.32 - 1.28 )\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4125"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4125\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}