USD/CAD - Daily - Technical analysis published on 09/26/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.3348 CAD
My targets
1.3752 CAD (+0.0119)
1.4110 CAD (+0.0477)
My analysis
USD/CAD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.3348 CAD. The next resistance located at 1.3752 CAD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.4110 CAD. After this resistance, buyers could then target 1.4567 CAD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.9
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This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.3633 CAD. The price has increased by +0.35% since the last closing with the lowest point at 1.3559 CAD and the highest point at 1.3638 CAD. The deviation from the price is +0.55% for the low point and -0.04% for the high point.1.3559
1.3638
1.3633
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 1.2891 | 1.2986 | 1.3348 | 1.3633 | 1.3752 | 1.4567 |
| Change (%) | -5.44% | -4.75% | -2.09% | - | +0.87% | +6.85% |
| Change | -0.0742 | -0.0647 | -0.0285 | - | +0.0119 | +0.0934 |
| Level | Minor | Major | Major | - | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3353 | 1.3411 | 1.3498 | 1.3556 | 1.3643 | 1.3701 | 1.3788 |
| Camarilla | 1.3546 | 1.3559 | 1.3573 | 1.3586 | 1.3599 | 1.3613 | 1.3626 |
| Woodie | 1.3369 | 1.3418 | 1.3514 | 1.3563 | 1.3659 | 1.3708 | 1.3804 |
| Fibonacci | 1.3411 | 1.3466 | 1.3500 | 1.3556 | 1.3611 | 1.3645 | 1.3701 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2952 | 1.3089 | 1.3338 | 1.3475 | 1.3724 | 1.3861 | 1.4110 |
| Camarilla | 1.3480 | 1.3515 | 1.3551 | 1.3586 | 1.3621 | 1.3657 | 1.3692 |
| Woodie | 1.3007 | 1.3117 | 1.3393 | 1.3503 | 1.3779 | 1.3889 | 1.4165 |
| Fibonacci | 1.3089 | 1.3237 | 1.3328 | 1.3475 | 1.3623 | 1.3714 | 1.3861 |
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): | 77.91 | |
| MACD (12,26,9): | 0.0145 | |
| Directional Movement: | 27.1482 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.3440 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3237 | |
| Elder Ray (13): | 0.0246 | |
| Super Trend (3,10): | 1.3269 | |
| Zig ZAG (10): | 1.3626 | |
| VORTEX (21): | 1.3007 | |
| Stochastique (14,3,5): | 94.43 | |
| TEMA (21): | 1.3528 | |
| Williams %R (14): | -0.30 | |
| Chande Momentum Oscillator (20): | 0.0548 | |
| Repulse (5,40,3): | 1.6267 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1101 | |
| Courbe Coppock: | 5.13 |
| MA7: | 1.3434 | |
| MA20: | 1.3231 | |
| MA50: | 1.3027 | |
| MA100: | 1.2946 | |
| MAexp7: | 1.3458 | |
| MAexp20: | 1.3269 | |
| MAexp50: | 1.3101 | |
| MAexp100: | 1.2979 | |
| Price / MA7: | +1.48% | |
| Price / MA20: | +3.04% | |
| Price / MA50: | +4.65% | |
| Price / MA100: | +5.31% | |
| Price / MAexp7: | +1.30% | |
| Price / MAexp20: | +2.74% | |
| Price / MAexp50: | +4.06% | |
| Price / MAexp100: | +5.04% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/CAD at the time of the analysis were as follows:
-
USD/CAD Forecast September 26, 2022
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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