USD/CAD - 1H - Technical analysis published on 10/25/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 1.2336 CAD
My targets
1.2388 CAD (+0.0020)
1.2410 CAD (+0.0042)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/CAD as long as the price remains well above 1.2336 CAD. The buyers' bullish objective is set at 1.2388 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2410 CAD. If there is any crossing, the next objective would be the resistance located at 1.2435 CAD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
7.5
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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
USD/CAD rating 1.2368 CAD. The price registered an increase of +0.02% on the session and was between 1.2338 CAD and 1.2389 CAD. This implies that the price is at +0.24% from its lowest and at -0.17% from its highest.1.2338
1.2389
1.2368
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/CAD in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
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 | 1.2297 | 1.2336 | 1.2363 | 1.2368 | 1.2388 | 1.2410 | 1.2435 |
| Change (%) | -0.57% | -0.26% | -0.04% | - | +0.16% | +0.34% | +0.54% |
| Change | -0.0071 | -0.0032 | -0.0005 | - | +0.0020 | +0.0042 | +0.0067 |
| Level | Major | Intermediate | Minor | - | Intermediate | Intermediate | Minor |
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 | 1.2258 | 1.2290 | 1.2327 | 1.2359 | 1.2396 | 1.2428 | 1.2465 |
| Camarilla | 1.2346 | 1.2352 | 1.2359 | 1.2365 | 1.2371 | 1.2378 | 1.2384 |
| Woodie | 1.2262 | 1.2291 | 1.2331 | 1.2360 | 1.2400 | 1.2429 | 1.2469 |
| Fibonacci | 1.2290 | 1.2316 | 1.2332 | 1.2359 | 1.2385 | 1.2401 | 1.2428 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2177 | 1.2232 | 1.2299 | 1.2354 | 1.2421 | 1.2476 | 1.2543 |
| Camarilla | 1.2332 | 1.2343 | 1.2354 | 1.2365 | 1.2376 | 1.2387 | 1.2399 |
| Woodie | 1.2182 | 1.2235 | 1.2304 | 1.2357 | 1.2426 | 1.2479 | 1.2548 |
| Fibonacci | 1.2232 | 1.2279 | 1.2308 | 1.2354 | 1.2401 | 1.2430 | 1.2476 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2084 | 1.2288 | 1.2487 | 1.2691 | 1.2890 | 1.3094 | 1.3293 |
| Camarilla | 1.2574 | 1.2611 | 1.2648 | 1.2685 | 1.2722 | 1.2759 | 1.2796 |
| Woodie | 1.2081 | 1.2287 | 1.2484 | 1.2690 | 1.2887 | 1.3093 | 1.3290 |
| Fibonacci | 1.2288 | 1.2442 | 1.2537 | 1.2691 | 1.2845 | 1.2940 | 1.3094 |
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): | 52.94 | |
| MACD (12,26,9): | 0.0002 | |
| Directional Movement: | 14.9057 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.2366 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2413 | |
| Elder Ray (13): | 0.0007 | |
| Super Trend (3,10): | 1.2420 | |
| Zig ZAG (10): | 1.2373 | |
| VORTEX (21): | 0.9814 | |
| Stochastique (14,3,5): | 19.84 | |
| TEMA (21): | 1.2364 | |
| Williams %R (14): | -79.76 | |
| Chande Momentum Oscillator (20): | 0.0025 | |
| Repulse (5,40,3): | 0.0539 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0015 | |
| Courbe Coppock: | 0.08 |
| MA7: | 1.2361 | |
| MA20: | 1.2492 | |
| MA50: | 1.2597 | |
| MA100: | 1.2518 | |
| MAexp7: | 1.2366 | |
| MAexp20: | 1.2363 | |
| MAexp50: | 1.2358 | |
| MAexp100: | 1.2358 | |
| Price / MA7: | +0.06% | |
| Price / MA20: | -0.99% | |
| Price / MA50: | -1.82% | |
| Price / MA100: | -1.20% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.08% | |
| Price / MAexp100: | +0.08% |
Quotes :
-
Real time data
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Forex
News
The last news published on USD/CAD at the time of the generation of this analysis was as follows:
-
USD/CAD Technical Outlook: Chart at Support
-
USD/CAD Technical Outlook: Short-term Chart Ready for a Breakout
-
Market Sentiment Webinar: Long Positions Jump in USD/CAD
-
Dollar, USDCAD and Oil Reversals Defy Trend, Suit Anticipation
-
S&P 500 Due a Break Before Week's End, USDCAD Top Event Catalyst
This member declared not having a position on this financial instrument or a related financial instrument.
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