USD/CAD - Daily - Technical analysis published on 12/06/2022 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 1.3348 CAD
My targets
1.3752 CAD (+0.0086)
1.3881 CAD (+0.0215)
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 1.3348 CAD. The buyers' bullish objective is set at 1.3752 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.3881 CAD. If there is any crossing, the next objective would be 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, 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
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3666 CAD. The price registered an increase of +0.57% on the session with the lowest point at 1.3570 CAD and the highest point at 1.3667 CAD. The deviation from the price is +0.71% for the low point and -0.01% for the high point.1.3570
1.3667
1.3666
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend 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
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 USD/CAD in Daily shows a strongly overall bullish trend. 82.14% 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 detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 17 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD indicator is back over 0
Type : Bullish
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
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Three white soldiers
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2764 | 1.2986 | 1.3348 | 1.3666 | 1.3752 | 1.3881 | 1.4567 |
| Change (%) | -6.60% | -4.98% | -2.33% | - | +0.63% | +1.57% | +6.59% |
| Change | -0.0902 | -0.0680 | -0.0318 | - | +0.0086 | +0.0215 | +0.0901 |
| Level | Minor | Major | Intermediate | - | Major | 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 | 1.3225 | 1.3304 | 1.3447 | 1.3526 | 1.3669 | 1.3748 | 1.3891 |
| Camarilla | 1.3528 | 1.3548 | 1.3569 | 1.3589 | 1.3609 | 1.3630 | 1.3650 |
| Woodie | 1.3256 | 1.3320 | 1.3478 | 1.3542 | 1.3700 | 1.3764 | 1.3922 |
| Fibonacci | 1.3304 | 1.3389 | 1.3442 | 1.3526 | 1.3611 | 1.3664 | 1.3748 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3093 | 1.3240 | 1.3353 | 1.3500 | 1.3613 | 1.3760 | 1.3873 |
| Camarilla | 1.3396 | 1.3419 | 1.3443 | 1.3467 | 1.3491 | 1.3515 | 1.3539 |
| Woodie | 1.3077 | 1.3232 | 1.3337 | 1.3492 | 1.3597 | 1.3752 | 1.3857 |
| Fibonacci | 1.3240 | 1.3339 | 1.3400 | 1.3500 | 1.3599 | 1.3660 | 1.3760 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2576 | 1.2901 | 1.3158 | 1.3483 | 1.3740 | 1.4065 | 1.4322 |
| Camarilla | 1.3255 | 1.3308 | 1.3362 | 1.3415 | 1.3468 | 1.3522 | 1.3575 |
| Woodie | 1.2542 | 1.2884 | 1.3124 | 1.3466 | 1.3706 | 1.4048 | 1.4288 |
| Fibonacci | 1.2901 | 1.3123 | 1.3261 | 1.3483 | 1.3705 | 1.3843 | 1.4065 |
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): | 59.81 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 17.1353 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.3474 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3364 | |
| Elder Ray (13): | 0.0132 | |
| Super Trend (3,10): | 1.3694 | |
| Zig ZAG (10): | 1.3662 | |
| VORTEX (21): | 1.0376 | |
| Stochastique (14,3,5): | 81.07 | |
| TEMA (21): | 1.3497 | |
| Williams %R (14): | -0.27 | |
| Chande Momentum Oscillator (20): | 0.0289 | |
| Repulse (5,40,3): | 1.8267 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0354 | |
| Courbe Coppock: | 2.32 |
| MA7: | 1.3521 | |
| MA20: | 1.3414 | |
| MA50: | 1.3568 | |
| MA100: | 1.3307 | |
| MAexp7: | 1.3527 | |
| MAexp20: | 1.3477 | |
| MAexp50: | 1.3459 | |
| MAexp100: | 1.3339 | |
| Price / MA7: | +1.07% | |
| Price / MA20: | +1.88% | |
| Price / MA50: | +0.72% | |
| Price / MA100: | +2.70% | |
| Price / MAexp7: | +1.03% | |
| Price / MAexp20: | +1.40% | |
| Price / MAexp50: | +1.54% | |
| Price / MAexp100: | +2.45% |
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:
-
USD/CAD Forecast December 5, 2022
-
Technical Analysis: 02/12/2022 - USDCAD steps on 20-SMA; bears still present
-
USD/CAD Forecast December 2, 2022
-
Technical Analysis: 25/11/2022 - USDCAD retreats as latest recovery fades
-
USD/CAD Forecast November 22, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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