EUR/CAD - Daily - Technical analysis published on 07/14/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.5411 CAD
My targets
1.5642 CAD (+0.0156)
1.5850 CAD (+0.0364)
My analysis
The bullish trend is currently very strong on EUR/CAD. As long as the price remains above the support at 1.5411 CAD, you could try to benefit from the boom. The first bullish objective is located at 1.5642 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.5850 CAD as an objective. Crossing it would then enable buyers to target 1.6145 CAD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
8.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/CAD rating 1.5486 CAD. On the day, this instrument gained +0.29% with the lowest point at 1.5437 CAD and the highest point at 1.5487 CAD. The deviation from the price is +0.32% for the low point and -0.01% for the high point.1.5437
1.5487
1.5486
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this EUR/CAD chart shows a strongly 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 scanner does not detect any result on moving averages that would impact this trend.
In fact, 16 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Resistance of triangle is broken
Type : Bullish
Timeframe : Daily
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Three white soldiers
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.5093 | 1.5213 | 1.5411 | 1.5486 | 1.5642 | 1.5850 | 1.6145 |
| Change (%) | -2.54% | -1.76% | -0.48% | - | +1.01% | +2.35% | +4.26% |
| Change | -0.0393 | -0.0273 | -0.0075 | - | +0.0156 | +0.0364 | +0.0659 |
| Level | Minor | Major | Major | - | Major | Major | Major |
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 | 1.5265 | 1.5302 | 1.5372 | 1.5409 | 1.5479 | 1.5516 | 1.5586 |
| Camarilla | 1.5412 | 1.5421 | 1.5431 | 1.5441 | 1.5451 | 1.5461 | 1.5470 |
| Woodie | 1.5281 | 1.5310 | 1.5388 | 1.5417 | 1.5495 | 1.5524 | 1.5602 |
| Fibonacci | 1.5302 | 1.5343 | 1.5369 | 1.5409 | 1.5450 | 1.5476 | 1.5516 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5090 | 1.5160 | 1.5260 | 1.5330 | 1.5430 | 1.5500 | 1.5600 |
| Camarilla | 1.5314 | 1.5330 | 1.5345 | 1.5361 | 1.5377 | 1.5392 | 1.5408 |
| Woodie | 1.5106 | 1.5168 | 1.5276 | 1.5338 | 1.5446 | 1.5508 | 1.5616 |
| Fibonacci | 1.5160 | 1.5225 | 1.5265 | 1.5330 | 1.5395 | 1.5435 | 1.5500 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4658 | 1.4857 | 1.5053 | 1.5252 | 1.5448 | 1.5647 | 1.5843 |
| Camarilla | 1.5141 | 1.5178 | 1.5214 | 1.5250 | 1.5286 | 1.5322 | 1.5359 |
| Woodie | 1.4658 | 1.4856 | 1.5053 | 1.5251 | 1.5448 | 1.5646 | 1.5843 |
| Fibonacci | 1.4857 | 1.5008 | 1.5101 | 1.5252 | 1.5403 | 1.5496 | 1.5647 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 63.25 | |
| MACD (12,26,9): | 0.0041 | |
| Directional Movement: | 15.3478 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.5374 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.5202 | |
| Elder Ray (13): | 0.0112 | |
| Super Trend (3,10): | 1.5187 | |
| Zig ZAG (10): | 1.5483 | |
| VORTEX (21): | 1.0805 | |
| Stochastique (14,3,5): | 89.40 | |
| TEMA (21): | 1.5403 | |
| Williams %R (14): | -0.36 | |
| Chande Momentum Oscillator (20): | 0.0122 | |
| Repulse (5,40,3): | 0.9724 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0232 | |
| Courbe Coppock: | 0.99 |
| MA7: | 1.5371 | |
| MA20: | 1.5312 | |
| MA50: | 1.5259 | |
| MA100: | 1.5282 | |
| MAexp7: | 1.5385 | |
| MAexp20: | 1.5327 | |
| MAexp50: | 1.5277 | |
| MAexp100: | 1.5185 | |
| Price / MA7: | +0.75% | |
| Price / MA20: | +1.14% | |
| Price / MA50: | +1.49% | |
| Price / MA100: | +1.33% | |
| Price / MAexp7: | +0.66% | |
| Price / MAexp20: | +1.04% | |
| Price / MAexp50: | +1.37% | |
| Price / MAexp100: | +1.98% |
Quotes :
2020-07-14 09:54:57
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Real time data
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Forex
News
The latest news and videos published on EUR/CAD at the time of the analysis were as follows:
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Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
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Why I'm looking to sell EURCAD: Coleman
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EUR/CAD To Hold Steady
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EUR/CAD Bullish Breakthrough
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Bullish Divergence – EURCAD
This member declared not having a position on this financial instrument or a related financial instrument.
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