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
83%
6%
11%
My opinion
Bullish above 0.9094 CAD
My targets
0.9143 CAD (+0.0038)
0.9191 CAD (+0.0086)
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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
AUD/CAD rating 0.9105 CAD. The price registered an increase of +0.42% on the session and was between 0.9054 CAD and 0.9113 CAD. This implies that the price is at +0.56% from its lowest and at -0.09% from its highest.0.9054
0.9113
0.9105
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 this 1H chart of AUD/CAD indicates that the overall trend is strongly bullish. 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.
The probability of a further increase is high given the direction of the technical indicators.
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
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, 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 | 0.9068 | 0.9087 | 0.9094 | 0.9105 | 0.9112 | 0.9191 | 0.9511 |
| Change (%) | -0.41% | -0.20% | -0.12% | - | +0.08% | +0.94% | +4.46% |
| Change | -0.0037 | -0.0018 | -0.0011 | - | +0.0007 | +0.0086 | +0.0406 |
| Level | Intermediate | Minor | Intermediate | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
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 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): | 73.14 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 22.6825 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 0.9094 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.9079 | |
| Elder Ray (13): | 0.0017 | |
| Super Trend (3,10): | 0.9075 | |
| Zig ZAG (10): | 0.9108 | |
| VORTEX (21): | 1.2100 | |
| Stochastique (14,3,5): | 86.21 | |
| TEMA (21): | 0.9103 | |
| Williams %R (14): | -8.62 | |
| Chande Momentum Oscillator (20): | 0.0047 | |
| Repulse (5,40,3): | 0.1373 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0081 | |
| Courbe Coppock: | 0.76 |
| MA7: | 0.9074 | |
| MA20: | 0.9069 | |
| MA50: | 0.8970 | |
| MA100: | 0.8908 | |
| MAexp7: | 0.9098 | |
| MAexp20: | 0.9083 | |
| MAexp50: | 0.9076 | |
| MAexp100: | 0.9074 | |
| Price / MA7: | +0.34% | |
| Price / MA20: | +0.40% | |
| Price / MA50: | +1.51% | |
| Price / MA100: | +2.21% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.24% | |
| Price / MAexp50: | +0.32% | |
| 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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