USD/CAD - 1H - Technical analysis published on 05/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
83%
11%
6%
My opinion
Bullish above 1.3607 CAD
My targets
1.3661 CAD (+0.0024)
1.3686 CAD (+0.0049)
My analysis
The strong short-term increase of USD/CAD should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 1.3607 CAD, a purchase could be considered. The first bullish objective is located at 1.3661 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 1.3686 CAD. If there is any crossing, the next objective would be the resistance at 1.3763 CAD. Caution, if there is a return under 1.3607 CAD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
3.8
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3637 CAD. The price has increased by +0.16% since the last closing with the lowest point at 1.3613 CAD and the highest point at 1.3642 CAD. The deviation from the price is +0.18% for the low point and -0.04% for the high point.1.3613
1.3642
1.3637
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/CAD indicates that the overall trend is not clearly defined. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3594 | 1.3607 | 1.3634 | 1.3637 | 1.3661 | 1.3686 | 1.3763 |
| Change (%) | -0.32% | -0.22% | -0.02% | - | +0.18% | +0.36% | +0.92% |
| Change | -0.0043 | -0.0030 | -0.0003 | - | +0.0024 | +0.0049 | +0.0126 |
| Level | Major | Minor | Intermediate | - | Minor | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3539 | 1.3564 | 1.3590 | 1.3615 | 1.3641 | 1.3666 | 1.3692 |
| Camarilla | 1.3601 | 1.3606 | 1.3610 | 1.3615 | 1.3620 | 1.3624 | 1.3629 |
| Woodie | 1.3539 | 1.3564 | 1.3590 | 1.3615 | 1.3641 | 1.3666 | 1.3692 |
| Fibonacci | 1.3564 | 1.3584 | 1.3596 | 1.3615 | 1.3635 | 1.3647 | 1.3666 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3487 | 1.3561 | 1.3616 | 1.3690 | 1.3745 | 1.3819 | 1.3874 |
| Camarilla | 1.3637 | 1.3648 | 1.3660 | 1.3672 | 1.3684 | 1.3696 | 1.3708 |
| Woodie | 1.3479 | 1.3556 | 1.3608 | 1.3685 | 1.3737 | 1.3814 | 1.3866 |
| Fibonacci | 1.3561 | 1.3610 | 1.3640 | 1.3690 | 1.3739 | 1.3769 | 1.3819 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3187 | 1.3333 | 1.3555 | 1.3701 | 1.3923 | 1.4069 | 1.4291 |
| Camarilla | 1.3677 | 1.3711 | 1.3744 | 1.3778 | 1.3812 | 1.3846 | 1.3879 |
| Woodie | 1.3226 | 1.3352 | 1.3594 | 1.3720 | 1.3962 | 1.4088 | 1.4330 |
| Fibonacci | 1.3333 | 1.3473 | 1.3560 | 1.3701 | 1.3841 | 1.3928 | 1.4069 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 62.86 | |
| MACD (12,26,9): | 0.0003 | |
| Directional Movement: | 7.9933 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 1.3626 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3610 | |
| Elder Ray (13): | 0.0011 | |
| Super Trend (3,10): | 1.3607 | |
| Zig ZAG (10): | 1.3638 | |
| VORTEX (21): | 1.0090 | |
| Stochastique (14,3,5): | 82.20 | |
| TEMA (21): | 1.3631 | |
| Williams %R (14): | -12.50 | |
| Chande Momentum Oscillator (20): | 0.0020 | |
| Repulse (5,40,3): | 0.1207 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0014 | |
| Courbe Coppock: | 0.14 |
| MA7: | 1.3646 | |
| MA20: | 1.3679 | |
| MA50: | 1.3632 | |
| MA100: | 1.3548 | |
| MAexp7: | 1.3628 | |
| MAexp20: | 1.3623 | |
| MAexp50: | 1.3626 | |
| MAexp100: | 1.3638 | |
| Price / MA7: | -0.07% | |
| Price / MA20: | -0.31% | |
| Price / MA50: | +0.04% | |
| Price / MA100: | +0.66% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | +0.08% | |
| Price / MAexp100: | -0.01% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on USD/CAD at the time of the analysis were as follows:
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USD/CAD Forecast May 17, 2024
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Trade of the Week: Time to go long USDCAD?
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USD/CAD Forecast May 8, 2024
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USD/CAD Forecast May 2, 2024
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USD/CAD Forecast April 10, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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