EUR/CAD - 1H - Technical analysis published on 04/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 1.4681 CAD
My targets
1.4741 CAD (+0.0044)
1.4758 CAD (+0.0061)
My analysis
EUR/CAD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.4681 CAD. The next resistance located at 1.4741 CAD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.4758 CAD. After this resistance, buyers could then target 1.4841 CAD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
6.8
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/CAD rating is 1.4697 CAD. The price has increased by +0.14% since the last closing and was traded between 1.4669 CAD and 1.4702 CAD over the period. The price is currently at +0.19% from its lowest and -0.03% from its highest.1.4669
1.4702
1.4697
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EUR/CAD:
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 EUR/CAD indicates that the overall trend is strongly bullish. 82.14% 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.
In fact, according to the parameters integrated into the Central Analyzer system, 12 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
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of triangle
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.4653 | 1.4668 | 1.4681 | 1.4697 | 1.4711 | 1.4741 | 1.4758 |
| Change (%) | -0.30% | -0.20% | -0.11% | - | +0.10% | +0.30% | +0.42% |
| Change | -0.0044 | -0.0029 | -0.0016 | - | +0.0014 | +0.0044 | +0.0061 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4543 | 1.4590 | 1.4634 | 1.4681 | 1.4725 | 1.4772 | 1.4816 |
| Camarilla | 1.4652 | 1.4660 | 1.4669 | 1.4677 | 1.4685 | 1.4694 | 1.4702 |
| Woodie | 1.4541 | 1.4589 | 1.4632 | 1.4680 | 1.4723 | 1.4771 | 1.4814 |
| Fibonacci | 1.4590 | 1.4625 | 1.4647 | 1.4681 | 1.4716 | 1.4738 | 1.4772 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4449 | 1.4534 | 1.4595 | 1.4680 | 1.4741 | 1.4826 | 1.4887 |
| Camarilla | 1.4617 | 1.4630 | 1.4644 | 1.4657 | 1.4670 | 1.4684 | 1.4697 |
| Woodie | 1.4438 | 1.4528 | 1.4584 | 1.4674 | 1.4730 | 1.4820 | 1.4876 |
| Fibonacci | 1.4534 | 1.4589 | 1.4624 | 1.4680 | 1.4735 | 1.4770 | 1.4826 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4345 | 1.4465 | 1.4540 | 1.4660 | 1.4735 | 1.4855 | 1.4930 |
| Camarilla | 1.4561 | 1.4579 | 1.4597 | 1.4615 | 1.4633 | 1.4651 | 1.4669 |
| Woodie | 1.4323 | 1.4454 | 1.4518 | 1.4649 | 1.4713 | 1.4844 | 1.4908 |
| Fibonacci | 1.4465 | 1.4540 | 1.4586 | 1.4660 | 1.4735 | 1.4781 | 1.4855 |
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): | 58.75 | |
| MACD (12,26,9): | 0.0004 | |
| Directional Movement: | 3.1135 | |
| AROON (14): | -42.8572 | |
| DEMA (21): | 1.4691 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4669 | |
| Elder Ray (13): | 0.0009 | |
| Super Trend (3,10): | 1.4660 | |
| Zig ZAG (10): | 1.4699 | |
| VORTEX (21): | 1.0717 | |
| Stochastique (14,3,5): | 72.04 | |
| TEMA (21): | 1.4691 | |
| Williams %R (14): | -3.23 | |
| Chande Momentum Oscillator (20): | 0.0016 | |
| Repulse (5,40,3): | 0.1394 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0049 | |
| Courbe Coppock: | 0.08 |
| MA7: | 1.4686 | |
| MA20: | 1.4676 | |
| MA50: | 1.4662 | |
| MA100: | 1.4651 | |
| MAexp7: | 1.4689 | |
| MAexp20: | 1.4684 | |
| MAexp50: | 1.4676 | |
| MAexp100: | 1.4674 | |
| Price / MA7: | +0.07% | |
| Price / MA20: | +0.14% | |
| Price / MA50: | +0.24% | |
| Price / MA100: | +0.31% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.14% | |
| Price / MAexp100: | +0.16% |
Quotes :
-
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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