USD/CAD - Daily - Technical analysis published on 10/02/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 1.3752 CAD
My targets
1.4127 CAD (+0.0314)
1.4567 CAD (+0.0754)
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 1.3752 CAD. The buyers' bullish objective is set at 1.4127 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.4567 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, 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
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
The USD/CAD rating is 1.3813 CAD. The price is lower by -0.12% since the last closing and was between 1.3806 CAD and 1.3827 CAD. This implies that the price is at +0.05% from its lowest and at -0.10% from its highest.1.3806
1.3827
1.3813
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : Daily
Bearish harami cross
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.2986 | 1.3348 | 1.3752 | 1.3813 | 1.4567 |
| Change (%) | -5.99% | -3.37% | -0.44% | - | +5.46% |
| Change | -0.0827 | -0.0465 | -0.0061 | - | +0.0754 |
| Level | Major | Intermediate | Major | - | 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 | 1.3532 | 1.3595 | 1.3712 | 1.3775 | 1.3892 | 1.3955 | 1.4072 |
| Camarilla | 1.3780 | 1.3796 | 1.3813 | 1.3829 | 1.3846 | 1.3862 | 1.3879 |
| Woodie | 1.3559 | 1.3609 | 1.3739 | 1.3789 | 1.3919 | 1.3969 | 1.4099 |
| Fibonacci | 1.3595 | 1.3664 | 1.3706 | 1.3775 | 1.3844 | 1.3886 | 1.3955 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3367 | 1.3463 | 1.3646 | 1.3742 | 1.3925 | 1.4021 | 1.4204 |
| Camarilla | 1.3752 | 1.3778 | 1.3803 | 1.3829 | 1.3855 | 1.3880 | 1.3906 |
| Woodie | 1.3411 | 1.3485 | 1.3690 | 1.3764 | 1.3969 | 1.4043 | 1.4248 |
| Fibonacci | 1.3463 | 1.3570 | 1.3635 | 1.3742 | 1.3849 | 1.3914 | 1.4021 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2359 | 1.2656 | 1.3243 | 1.3540 | 1.4127 | 1.4424 | 1.5011 |
| Camarilla | 1.3586 | 1.3667 | 1.3748 | 1.3829 | 1.3910 | 1.3991 | 1.4072 |
| Woodie | 1.2503 | 1.2729 | 1.3387 | 1.3613 | 1.4271 | 1.4497 | 1.5155 |
| Fibonacci | 1.2656 | 1.2994 | 1.3203 | 1.3540 | 1.3878 | 1.4087 | 1.4424 |
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): | 76.78 | |
| MACD (12,26,9): | 0.0197 | |
| Directional Movement: | 30.1419 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 1.3701 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3625 | |
| Elder Ray (13): | 0.0249 | |
| Super Trend (3,10): | 1.3430 | |
| Zig ZAG (10): | 1.3813 | |
| VORTEX (21): | 1.2835 | |
| Stochastique (14,3,5): | 92.24 | |
| TEMA (21): | 1.3806 | |
| Williams %R (14): | -4.43 | |
| Chande Momentum Oscillator (20): | 0.0558 | |
| Repulse (5,40,3): | 0.8173 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1712 | |
| Courbe Coppock: | 8.73 |
| MA7: | 1.3709 | |
| MA20: | 1.3388 | |
| MA50: | 1.3114 | |
| MA100: | 1.2985 | |
| MAexp7: | 1.3690 | |
| MAexp20: | 1.3461 | |
| MAexp50: | 1.3219 | |
| MAexp100: | 1.3053 | |
| Price / MA7: | +0.76% | |
| Price / MA20: | +3.17% | |
| Price / MA50: | +5.33% | |
| Price / MA100: | +6.38% | |
| Price / MAexp7: | +0.90% | |
| Price / MAexp20: | +2.61% | |
| Price / MAexp50: | +4.49% | |
| Price / MAexp100: | +5.82% |
Quotes :
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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:
-
Technical Analysis: 30/09/2022 - USDCAD curbs exponential growth; support at 1.3600
-
USD/CAD Forecast September 30, 2022
-
USDCAD Reversal Risk is Rising Quickly
-
USD/CAD Forecast September 26, 2022
-
Technical Analysis: 23/09/2022 - USDCAD unlocks fresh 26-month high
This member declared not having a position on this financial instrument or a related financial instrument.
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