USD/CAD - Daily - Technical analysis published on 09/30/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
67%
6%
28%
My opinion
Bullish above 1.2986 CAD
My targets
1.3642 CAD (+0.0316)
1.3874 CAD (+0.0548)
My analysis
The strong short-term increase in USD/CAD calls into question the currently slightly bearish basic trend. A trend reversal is likely. As long as the price remains above 1.2986 CAD, you could consider taking advantage of the short-term movement. The first bullish objective is located at 1.3642 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.3874 CAD as an objective. Crossing it would then enable buyers to target 1.4191 CAD. Caution, a return under 1.2986 CAD could jeopardize the reversal.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
2.3
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This analysis was given by pyxis2025. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3326 CAD. The price registered a decrease of -0.43% on the session with the lowest point at 1.3317 CAD and the highest point at 1.3421 CAD. The deviation from the price is +0.07% for the low point and -0.71% for the high point.1.3317
1.3421
1.3326
A study of price movements over other periods shows the following variations:
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 Daily chart of USD/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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
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 under support 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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
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 | 1.2109 | 1.2558 | 1.2986 | 1.3326 | 1.3330 | 1.3642 | 1.3874 |
| Change (%) | -9.13% | -5.76% | -2.55% | - | +0.03% | +2.37% | +4.11% |
| Change | -0.1217 | -0.0768 | -0.0340 | - | +0.0004 | +0.0316 | +0.0548 |
| Level | Intermediate | Minor | Major | - | 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 | 1.3284 | 1.3318 | 1.3351 | 1.3385 | 1.3418 | 1.3452 | 1.3485 |
| Camarilla | 1.3366 | 1.3372 | 1.3378 | 1.3384 | 1.3390 | 1.3396 | 1.3402 |
| Woodie | 1.3284 | 1.3318 | 1.3351 | 1.3385 | 1.3418 | 1.3452 | 1.3485 |
| Fibonacci | 1.3318 | 1.3344 | 1.3359 | 1.3385 | 1.3411 | 1.3426 | 1.3452 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2984 | 1.3078 | 1.3232 | 1.3326 | 1.3480 | 1.3574 | 1.3728 |
| Camarilla | 1.3319 | 1.3342 | 1.3364 | 1.3387 | 1.3410 | 1.3433 | 1.3455 |
| Woodie | 1.3015 | 1.3093 | 1.3263 | 1.3341 | 1.3511 | 1.3589 | 1.3759 |
| Fibonacci | 1.3078 | 1.3172 | 1.3231 | 1.3326 | 1.3420 | 1.3479 | 1.3574 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2456 | 1.2738 | 1.2888 | 1.3170 | 1.3320 | 1.3602 | 1.3752 |
| Camarilla | 1.2920 | 1.2960 | 1.2999 | 1.3039 | 1.3079 | 1.3118 | 1.3158 |
| Woodie | 1.2391 | 1.2705 | 1.2823 | 1.3137 | 1.3255 | 1.3569 | 1.3687 |
| Fibonacci | 1.2738 | 1.2903 | 1.3005 | 1.3170 | 1.3335 | 1.3437 | 1.3602 |
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): | 56.43 | |
| MACD (12,26,9): | 0.0041 | |
| Directional Movement: | 11.4632 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.3313 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3287 | |
| Elder Ray (13): | 0.0075 | |
| Super Trend (3,10): | 1.3136 | |
| Zig ZAG (10): | 1.3334 | |
| VORTEX (21): | 1.1839 | |
| Stochastique (14,3,5): | 79.16 | |
| TEMA (21): | 1.3381 | |
| Williams %R (14): | -30.61 | |
| Chande Momentum Oscillator (20): | 0.0154 | |
| Repulse (5,40,3): | -0.5858 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0201 | |
| Courbe Coppock: | 2.92 |
| MA7: | 1.3355 | |
| MA20: | 1.3239 | |
| MA50: | 1.3247 | |
| MA100: | 1.3442 | |
| MAexp7: | 1.3334 | |
| MAexp20: | 1.3274 | |
| MAexp50: | 1.3296 | |
| MAexp100: | 1.3395 | |
| Price / MA7: | -0.22% | |
| Price / MA20: | +0.66% | |
| Price / MA50: | +0.60% | |
| Price / MA100: | -0.86% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | +0.38% | |
| Price / MAexp50: | +0.22% | |
| Price / MAexp100: | -0.52% |
Quotes :
2020-09-30 15:22:44
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Real time data
-
Forex
News
Don"t forget to follow the news on USD/CAD. At the time of publication of this analysis, the latest news was as follows:
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USD/CAD Technical Analysis For September 29, 2020 By FX Empire
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USD/CAD Forecast September 29, 2020
-
USD/CAD Technical Analysis For September 28, 2020 By FX Empire
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USD/CAD Technical Analysis For September 25, 2020 By FX Empire
-
USD/CAD Technical Analysis For September 24, 2020 By FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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