EUR/CAD - Daily - Technical analysis published on 11/02/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.4520 CAD
My targets
1.4713 CAD (+0.27%)
1.4783 CAD (+0.74%)
My analysis
The strong short-term increase in EUR/CAD calls into question the currently slightly bearish basic trend. A trend reversal is likely. As long as the price remains above 1.4520 CAD, you could consider taking advantage of the short-term movement. The first bullish objective is located at 1.4713 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.4783 CAD as an objective. Crossing it would then enable buyers to target 1.4918 CAD. Caution, a return under 1.4520 CAD could jeopardize the reversal.
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
3.2
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/CAD price is 1.4674 CAD. The price is lower by -0.12% since the last closing and was traded between 1.4664 CAD and 1.4708 CAD over the period. The price is currently at +0.07% from its lowest and -0.23% from its highest.1.4664
1.4708
1.4674
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of EUR/CAD indicates that the overall trend is slightly bearish. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 16 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 : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
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 | 1.4316 | 1.4433 | 1.4520 | 1.4674 | 1.4713 | 1.4783 | 1.4918 |
Change (%) | -2.44% | -1.64% | -1.05% | - | +0.27% | +0.74% | +1.66% |
Change | -0.0358 | -0.0241 | -0.0154 | - | +0.0039 | +0.0109 | +0.0244 |
Level | Major | Intermediate | Intermediate | - | Intermediate | Major | 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 | 1.4569 | 1.4606 | 1.4648 | 1.4685 | 1.4727 | 1.4764 | 1.4806 |
Camarilla | 1.4669 | 1.4677 | 1.4684 | 1.4691 | 1.4698 | 1.4706 | 1.4713 |
Woodie | 1.4573 | 1.4607 | 1.4652 | 1.4686 | 1.4731 | 1.4765 | 1.4810 |
Fibonacci | 1.4606 | 1.4636 | 1.4655 | 1.4685 | 1.4715 | 1.4734 | 1.4764 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.4197 | 1.4331 | 1.4400 | 1.4534 | 1.4603 | 1.4737 | 1.4806 |
Camarilla | 1.4412 | 1.4431 | 1.4449 | 1.4468 | 1.4487 | 1.4505 | 1.4524 |
Woodie | 1.4164 | 1.4315 | 1.4367 | 1.4518 | 1.4570 | 1.4721 | 1.4773 |
Fibonacci | 1.4331 | 1.4409 | 1.4457 | 1.4534 | 1.4612 | 1.4660 | 1.4737 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.4193 | 1.4304 | 1.4498 | 1.4609 | 1.4803 | 1.4914 | 1.5108 |
Camarilla | 1.4607 | 1.4635 | 1.4663 | 1.4691 | 1.4719 | 1.4747 | 1.4775 |
Woodie | 1.4234 | 1.4325 | 1.4539 | 1.4630 | 1.4844 | 1.4935 | 1.5149 |
Fibonacci | 1.4304 | 1.4421 | 1.4493 | 1.4609 | 1.4726 | 1.4798 | 1.4914 |
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): | 58.37 | |
MACD (12,26,9): | 0.0007 | |
Directional Movement: | 10.0003 | |
AROON (14): | 14.2857 | |
DEMA (21): | 1.4599 | |
Parabolic SAR (0,02-0,02-0,2): | 1.4466 | |
Elder Ray (13): | 0.0084 | |
Super Trend (3,10): | 1.4694 | |
Zig ZAG (10): | 1.4682 | |
VORTEX (21): | 1.0591 | |
Stochastique (14,3,5): | 90.54 | |
TEMA (21): | 1.4622 | |
Williams %R (14): | -15.04 | |
Chande Momentum Oscillator (20): | 0.0058 | |
Repulse (5,40,3): | 0.6525 | |
ROCnROLL: | 1 | |
TRIX (15,9): | -0.0064 | |
Courbe Coppock: | 0.04 |
MA7: | 1.4582 | |
MA20: | 1.4595 | |
MA50: | 1.4597 | |
MA100: | 1.4687 | |
MAexp7: | 1.4621 | |
MAexp20: | 1.4596 | |
MAexp50: | 1.4620 | |
MAexp100: | 1.4697 | |
Price / MA7: | +0.63% | |
Price / MA20: | +0.54% | |
Price / MA50: | +0.53% | |
Price / MA100: | -0.09% | |
Price / MAexp7: | +0.36% | |
Price / MAexp20: | +0.53% | |
Price / MAexp50: | +0.37% | |
Price / MAexp100: | -0.16% |
News
Don"t forget to follow the news on EUR/CAD. At the time of publication of this analysis, the latest news was as follows:
- Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
- Why I'm looking to sell EURCAD: Coleman
- EUR/CAD To Hold Steady
- EUR/CAD Bullish Breakthrough
- Bullish Divergence – EURCAD
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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