USD/CAD - 1H - Technical analysis published on 09/23/2022 (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
83%
6%
11%
My opinion
Bullish above 1.3513 CAD
My targets
1.3529 CAD (+0.0002)
1.3751 CAD (+0.0224)
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 1.3513 CAD. The buyers' bullish objective is set at 1.3529 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.3751 CAD. If there is any crossing, the next objective would be the resistance located at 1.3752 CAD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
8.6
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This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3527 CAD. On the day, this instrument gained +0.40% with the lowest point at 1.3468 CAD and the highest point at 1.3529 CAD. The deviation from the price is +0.44% for the low point and -0.01% for the high point.1.3468
1.3529
1.3527
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/CAD indicates that the overall trend is strongly bullish. 92.86% 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 scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
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
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
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 : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 1.3348 | 1.3410 | 1.3513 | 1.3527 | 1.3752 | 1.4567 |
| Change (%) | -1.32% | -0.86% | -0.10% | - | +1.66% | +7.69% |
| Change | -0.0179 | -0.0117 | -0.0014 | - | +0.0225 | +0.1040 |
| Level | Major | Intermediate | 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 | 1.3272 | 1.3340 | 1.3407 | 1.3475 | 1.3542 | 1.3610 | 1.3677 |
| Camarilla | 1.3436 | 1.3448 | 1.3461 | 1.3473 | 1.3485 | 1.3498 | 1.3510 |
| Woodie | 1.3271 | 1.3340 | 1.3406 | 1.3475 | 1.3541 | 1.3610 | 1.3676 |
| Fibonacci | 1.3340 | 1.3392 | 1.3424 | 1.3475 | 1.3527 | 1.3559 | 1.3610 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2689 | 1.2821 | 1.3043 | 1.3175 | 1.3397 | 1.3529 | 1.3751 |
| Camarilla | 1.3167 | 1.3199 | 1.3232 | 1.3264 | 1.3297 | 1.3329 | 1.3361 |
| Woodie | 1.2733 | 1.2844 | 1.3087 | 1.3198 | 1.3441 | 1.3552 | 1.3795 |
| Fibonacci | 1.2821 | 1.2957 | 1.3040 | 1.3175 | 1.3311 | 1.3394 | 1.3529 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2447 | 1.2588 | 1.2865 | 1.3006 | 1.3283 | 1.3424 | 1.3701 |
| Camarilla | 1.3028 | 1.3066 | 1.3105 | 1.3143 | 1.3181 | 1.3220 | 1.3258 |
| Woodie | 1.2516 | 1.2622 | 1.2934 | 1.3040 | 1.3352 | 1.3458 | 1.3770 |
| Fibonacci | 1.2588 | 1.2747 | 1.2846 | 1.3006 | 1.3165 | 1.3264 | 1.3424 |
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): | 64.32 | |
| MACD (12,26,9): | 0.0012 | |
| Directional Movement: | 9.2542 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 1.3505 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3440 | |
| Elder Ray (13): | 0.0025 | |
| Super Trend (3,10): | 1.3539 | |
| Zig ZAG (10): | 1.3527 | |
| VORTEX (21): | 1.1253 | |
| Stochastique (14,3,5): | 90.44 | |
| TEMA (21): | 1.3502 | |
| Williams %R (14): | -1.64 | |
| Chande Momentum Oscillator (20): | 0.0039 | |
| Repulse (5,40,3): | 0.3082 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0098 | |
| Courbe Coppock: | 0.21 |
| MA7: | 1.3372 | |
| MA20: | 1.3197 | |
| MA50: | 1.3013 | |
| MA100: | 1.2939 | |
| MAexp7: | 1.3503 | |
| MAexp20: | 1.3489 | |
| MAexp50: | 1.3456 | |
| MAexp100: | 1.3397 | |
| Price / MA7: | +1.16% | |
| Price / MA20: | +2.50% | |
| Price / MA50: | +3.95% | |
| Price / MA100: | +4.54% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.28% | |
| Price / MAexp50: | +0.53% | |
| Price / MAexp100: | +0.97% |
Quotes :
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Real time data
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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: 23/09/2022 - USDCAD unlocks fresh 26-month high
-
Technical Analysis: 16/09/2022 - USDCAD storms to fresh 22-month high
-
USD/CAD Could Soon Sustain a Breakout
-
Technical Analysis: 09/09/2022 - USDCAD loses shine below July’s peak
-
Technical Analysis: 26/08/2022 - USDCAD stuck below 1.3026 for another week
This member declared not having a position on this financial instrument or a related financial instrument.
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