USD/CAD - Daily - Technical analysis published on 10/27/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
11%
67%
22%
My opinion
Bullish above 1.3348 CAD
My targets
1.3687 CAD (+0.0164)
1.3874 CAD (+0.0351)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on USD/CAD. As long as you are above the support located at 1.3348 CAD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.3687 CAD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1.3874 CAD as an objective. Crossing it would then enable buyers to target 1.4567 CAD. If the support 1.3348 CAD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
Force
0
10
0.7
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Additional analysis
Quotes
The USD/CAD price is 1.3523 CAD. The price is lower by -0.20% since the last closing and was between 1.3496 CAD and 1.3627 CAD. This implies that the price is at +0.20% from its lowest and at -0.76% from its highest.1.3496
1.3627
1.3523
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
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of USD/CAD indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Ichimoku - Bearish crossover : Tenkan & Kijun
Type : Bearish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
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 | 1.2765 | 1.2986 | 1.3348 | 1.3523 | 1.3687 | 1.3874 | 1.4567 |
| Change (%) | -5.61% | -3.97% | -1.29% | - | +1.21% | +2.60% | +7.72% |
| Change | -0.0758 | -0.0537 | -0.0175 | - | +0.0164 | +0.0351 | +0.1044 |
| Level | Minor | Major | Minor | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3345 | 1.3427 | 1.3488 | 1.3570 | 1.3631 | 1.3713 | 1.3774 |
| Camarilla | 1.3511 | 1.3524 | 1.3537 | 1.3550 | 1.3563 | 1.3576 | 1.3589 |
| Woodie | 1.3336 | 1.3422 | 1.3479 | 1.3565 | 1.3622 | 1.3708 | 1.3765 |
| Fibonacci | 1.3427 | 1.3481 | 1.3515 | 1.3570 | 1.3624 | 1.3658 | 1.3713 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3304 | 1.3467 | 1.3555 | 1.3718 | 1.3806 | 1.3969 | 1.4057 |
| Camarilla | 1.3574 | 1.3597 | 1.3620 | 1.3643 | 1.3666 | 1.3689 | 1.3712 |
| Woodie | 1.3267 | 1.3448 | 1.3518 | 1.3699 | 1.3769 | 1.3950 | 1.4020 |
| Fibonacci | 1.3467 | 1.3563 | 1.3622 | 1.3718 | 1.3814 | 1.3873 | 1.3969 |
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): | 44.22 | |
| MACD (12,26,9): | 0.0045 | |
| Directional Movement: | 3.3897 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 1.3732 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3929 | |
| Elder Ray (13): | -0.0095 | |
| Super Trend (3,10): | 1.3395 | |
| Zig ZAG (10): | 1.3516 | |
| VORTEX (21): | 0.9673 | |
| Stochastique (14,3,5): | 9.00 | |
| TEMA (21): | 1.3659 | |
| Williams %R (14): | -96.47 | |
| Chande Momentum Oscillator (20): | -0.0280 | |
| Repulse (5,40,3): | -1.6204 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1098 | |
| Courbe Coppock: | 0.90 |
| MA7: | 1.3654 | |
| MA20: | 1.3704 | |
| MA50: | 1.3415 | |
| MA100: | 1.3161 | |
| MAexp7: | 1.3626 | |
| MAexp20: | 1.3640 | |
| MAexp50: | 1.3459 | |
| MAexp100: | 1.3247 | |
| Price / MA7: | -0.96% | |
| Price / MA20: | -1.32% | |
| Price / MA50: | +0.81% | |
| Price / MA100: | +2.75% | |
| Price / MAexp7: | -0.76% | |
| Price / MAexp20: | -0.86% | |
| Price / MAexp50: | +0.48% | |
| Price / MAexp100: | +2.08% |
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:
-
Technical Analysis: 21/10/2022 - USDCAD trapped below 1.3800; uptrend intact
-
USD/CAD Breakout | Tuesday Market Outlook with Michael Boutros
-
USD/CAD Technical Outlook: Big Reversal Sets Up the Downside
-
Technical Analysis: 14/10/2022 - USDCAD retraces after hitting fresh 29-month high
-
USD/CAD Chart at Significant Inflection Point
This member declared not having a position on this financial instrument or a related financial instrument.
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