USD/CAD - Daily - Technical analysis published on 05/09/2022 (GMT)
- 158
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.2832 CAD
My targets
1.2989 CAD (+0.0059)
1.3348 CAD (+0.0418)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on USD/CAD. This is a positive signal for buyers. As long as the price remains above 1.2832 CAD, a purchase could be considered. The first bullish objective is located at 1.2989 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.3348 CAD as an objective. Crossing it would then enable buyers to target 1.3752 CAD. In the event of a return below 1.2832 CAD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be 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
7.5
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.2930 CAD. The price has increased by +0.17% since the last closing and was traded between 1.2893 CAD and 1.2950 CAD over the period. The price is currently at +0.29% from its lowest and -0.15% from its highest.1.2893
1.2950
1.2930
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by USD/CAD:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of USD/CAD indicates that the overall trend is bullish. 78.57% of the signals given by moving averages are bullish. This 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.
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
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
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 | 1.2766 | 1.2832 | 1.2891 | 1.2930 | 1.2937 | 1.2989 | 1.3348 |
| Change (%) | -1.27% | -0.76% | -0.30% | - | +0.05% | +0.46% | +3.23% |
| Change | -0.0164 | -0.0098 | -0.0039 | - | +0.0007 | +0.0059 | +0.0418 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Major | 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 | 1.2745 | 1.2779 | 1.2844 | 1.2878 | 1.2943 | 1.2977 | 1.3042 |
| Camarilla | 1.2881 | 1.2890 | 1.2899 | 1.2908 | 1.2917 | 1.2926 | 1.2935 |
| Woodie | 1.2760 | 1.2787 | 1.2859 | 1.2886 | 1.2958 | 1.2985 | 1.3057 |
| Fibonacci | 1.2779 | 1.2817 | 1.2841 | 1.2878 | 1.2916 | 1.2940 | 1.2977 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2575 | 1.2644 | 1.2776 | 1.2845 | 1.2977 | 1.3046 | 1.3178 |
| Camarilla | 1.2853 | 1.2871 | 1.2890 | 1.2908 | 1.2926 | 1.2945 | 1.2963 |
| Woodie | 1.2607 | 1.2660 | 1.2808 | 1.2861 | 1.3009 | 1.3062 | 1.3210 |
| Fibonacci | 1.2644 | 1.2721 | 1.2768 | 1.2845 | 1.2922 | 1.2969 | 1.3046 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2071 | 1.2237 | 1.2548 | 1.2714 | 1.3025 | 1.3191 | 1.3502 |
| Camarilla | 1.2728 | 1.2772 | 1.2815 | 1.2859 | 1.2903 | 1.2947 | 1.2990 |
| Woodie | 1.2144 | 1.2273 | 1.2621 | 1.2750 | 1.3098 | 1.3227 | 1.3575 |
| Fibonacci | 1.2237 | 1.2419 | 1.2532 | 1.2714 | 1.2896 | 1.3009 | 1.3191 |
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): | 65.71 | |
| MACD (12,26,9): | 0.0073 | |
| Directional Movement: | 3.7021 | |
| AROON (14): | 85.7143 | |
| DEMA (21): | 1.2844 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2713 | |
| Elder Ray (13): | 0.0120 | |
| Super Trend (3,10): | 1.2626 | |
| Zig ZAG (10): | 1.2931 | |
| VORTEX (21): | 1.1564 | |
| Stochastique (14,3,5): | 91.97 | |
| TEMA (21): | 1.2905 | |
| Williams %R (14): | -3.87 | |
| Chande Momentum Oscillator (20): | 0.0339 | |
| Repulse (5,40,3): | 0.9447 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0609 | |
| Courbe Coppock: | 3.93 |
| MA7: | 1.2853 | |
| MA20: | 1.2728 | |
| MA50: | 1.2669 | |
| MA100: | 1.2681 | |
| MAexp7: | 1.2851 | |
| MAexp20: | 1.2760 | |
| MAexp50: | 1.2697 | |
| MAexp100: | 1.2669 | |
| Price / MA7: | +0.60% | |
| Price / MA20: | +1.59% | |
| Price / MA50: | +2.06% | |
| Price / MA100: | +1.96% | |
| Price / MAexp7: | +0.61% | |
| Price / MAexp20: | +1.33% | |
| Price / MAexp50: | +1.84% | |
| Price / MAexp100: | +2.06% |
Quotes :
-
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:
-
Technical Analysis: 06/05/2022 - USDCAD heads for sixth weekly gain ahead of jobs data
-
Technical Analysis: 29/04/2022 - USDCAD eases as it fails to clear the upper boundary
-
Technical Analysis: 15/04/2022 - USDCAD at risk of bearish rotation below 1.2650
-
Technical Analysis: 08/04/2022 - USDCAD struggles to surpass 38.2% Fibo around 1.2600
-
Technical Analysis: 24/03/2022 - USDCAD breaks long-term support, but wait a bit
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis USD/CAD - Daily