AUD/CAD - 1H - Technical analysis published on 06/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 0.9094 CAD
My targets
0.9143 CAD (+0.0039)
0.9191 CAD (+0.0087)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on AUD/CAD as long as the price remains well above 0.9094 CAD. The buyers' bullish objective is set at 0.9143 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.9191 CAD. If there is any crossing, the next objective would be the resistance located at 0.9511 CAD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8
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Additional analysis
Quotes
The AUD/CAD price is 0.9104 CAD. The price has increased by +0.41% since the last closing and was traded between 0.9054 CAD and 0.9113 CAD over the period. The price is currently at +0.55% from its lowest and -0.10% from its highest.0.9054
0.9113
0.9104
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by AUD/CAD:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of AUD/CAD in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
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
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.9068 | 0.9087 | 0.9094 | 0.9104 | 0.9112 | 0.9191 | 0.9511 |
| Change (%) | -0.40% | -0.19% | -0.11% | - | +0.09% | +0.96% | +4.47% |
| Change | -0.0036 | -0.0017 | -0.0010 | - | +0.0008 | +0.0087 | +0.0407 |
| Level | Intermediate | Minor | Intermediate | - | Major | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9008 | 0.9030 | 0.9049 | 0.9071 | 0.9090 | 0.9112 | 0.9131 |
| Camarilla | 0.9056 | 0.9060 | 0.9063 | 0.9067 | 0.9071 | 0.9075 | 0.9078 |
| Woodie | 0.9006 | 0.9029 | 0.9047 | 0.9070 | 0.9088 | 0.9111 | 0.9129 |
| Fibonacci | 0.9030 | 0.9046 | 0.9056 | 0.9071 | 0.9087 | 0.9097 | 0.9112 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.8996 | 0.9023 | 0.9045 | 0.9072 | 0.9094 | 0.9121 | 0.9143 |
| Camarilla | 0.9054 | 0.9058 | 0.9063 | 0.9067 | 0.9072 | 0.9076 | 0.9081 |
| Woodie | 0.8994 | 0.9022 | 0.9043 | 0.9071 | 0.9092 | 0.9120 | 0.9141 |
| Fibonacci | 0.9023 | 0.9042 | 0.9053 | 0.9072 | 0.9091 | 0.9102 | 0.9121 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.8725 | 0.8817 | 0.8942 | 0.9034 | 0.9159 | 0.9251 | 0.9376 |
| Camarilla | 0.9007 | 0.9027 | 0.9047 | 0.9067 | 0.9087 | 0.9107 | 0.9127 |
| Woodie | 0.8742 | 0.8825 | 0.8959 | 0.9042 | 0.9176 | 0.9259 | 0.9393 |
| Fibonacci | 0.8817 | 0.8900 | 0.8951 | 0.9034 | 0.9117 | 0.9168 | 0.9251 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 73.34 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 25.8830 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 0.9087 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.9070 | |
| Elder Ray (13): | 0.0022 | |
| Super Trend (3,10): | 0.9073 | |
| Zig ZAG (10): | 0.9103 | |
| VORTEX (21): | 1.1810 | |
| Stochastique (14,3,5): | 83.33 | |
| TEMA (21): | 0.9095 | |
| Williams %R (14): | -13.79 | |
| Chande Momentum Oscillator (20): | 0.0046 | |
| Repulse (5,40,3): | 0.1204 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0046 | |
| Courbe Coppock: | 0.56 |
| MA7: | 0.9074 | |
| MA20: | 0.9069 | |
| MA50: | 0.8970 | |
| MA100: | 0.8908 | |
| MAexp7: | 0.9092 | |
| MAexp20: | 0.9079 | |
| MAexp50: | 0.9074 | |
| MAexp100: | 0.9073 | |
| Price / MA7: | +0.33% | |
| Price / MA20: | +0.39% | |
| Price / MA50: | +1.49% | |
| Price / MA100: | +2.20% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | +0.28% | |
| Price / MAexp50: | +0.33% | |
| Price / MAexp100: | +0.34% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on AUD/CAD. At the time of publication of this analysis, the latest news was as follows:
-
AUD/CAD Forecast May 23, 2024
-
AUD/CAD Forecast January 6, 2023
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S&P 500 Volatility Should Settle if Risk Appetite is Set, AUDCAD a Top Watch
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Australian Dollar Analysis: AUD/USD, AUD/JPY, AUD/CAD Gain as RBA Holds in February
This member declared not having a position on this financial instrument or a related financial instrument.
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