USD/CAD - Daily - Technical analysis published on 04/24/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 1.3279 CAD
My targets
1.3752 CAD (+0.0207)
1.4105 CAD (+0.0560)
My analysis
The basic trend is currently slightly bullish on USD/CAD and the short term does not seem to show any sign of improvement. Buyers are struggling to get their hands on this instrument. However, as long as the price remains above 1.3279 CAD, purchases could be favourable. The first bullish objective would be the resistance located at 1.3752 CAD. Then the price could move towards 1.4105 CAD. Then 1.4567 CAD by extension. A return under the support to 1.3279 CAD could jeopardize this fragile bullish trend. Indecision would then be total and in this case you could keep away.
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
3.8
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This analysis was given by Ahmadjdid. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3545 CAD. The price has increased by +0.04% since the last closing and was between 1.3523 CAD and 1.3568 CAD. This implies that the price is at +0.16% from its lowest and at -0.17% from its highest.1.3523
1.3568
1.3545
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this USD/CAD chart shows a slightly bullish trend. Only 57.14% of the signals given by moving averages are bullish. This slightly bullish trend is not supported by the signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : Daily
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
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 : 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 | 1.2986 | 1.3279 | 1.3516 | 1.3545 | 1.3752 | 1.4567 |
| Change (%) | -4.13% | -1.96% | -0.21% | - | +1.53% | +7.55% |
| Change | -0.0559 | -0.0266 | -0.0029 | - | +0.0207 | +0.1022 |
| Level | Major | Major | Intermediate | - | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3400 | 1.3438 | 1.3488 | 1.3526 | 1.3576 | 1.3614 | 1.3664 |
| Camarilla | 1.3515 | 1.3523 | 1.3531 | 1.3539 | 1.3547 | 1.3555 | 1.3563 |
| Woodie | 1.3407 | 1.3441 | 1.3495 | 1.3529 | 1.3583 | 1.3617 | 1.3671 |
| Fibonacci | 1.3438 | 1.3471 | 1.3492 | 1.3526 | 1.3559 | 1.3580 | 1.3614 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3179 | 1.3260 | 1.3400 | 1.3481 | 1.3621 | 1.3702 | 1.3842 |
| Camarilla | 1.3478 | 1.3499 | 1.3519 | 1.3539 | 1.3559 | 1.3580 | 1.3600 |
| Woodie | 1.3208 | 1.3275 | 1.3429 | 1.3496 | 1.3650 | 1.3717 | 1.3871 |
| Fibonacci | 1.3260 | 1.3345 | 1.3397 | 1.3481 | 1.3566 | 1.3618 | 1.3702 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3040 | 1.3274 | 1.3395 | 1.3629 | 1.3750 | 1.3984 | 1.4105 |
| Camarilla | 1.3419 | 1.3452 | 1.3485 | 1.3517 | 1.3550 | 1.3582 | 1.3615 |
| Woodie | 1.2985 | 1.3246 | 1.3340 | 1.3601 | 1.3695 | 1.3956 | 1.4050 |
| Fibonacci | 1.3274 | 1.3409 | 1.3493 | 1.3629 | 1.3764 | 1.3848 | 1.3984 |
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): | 53.79 | |
| MACD (12,26,9): | -0.0030 | |
| Directional Movement: | 3.3155 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.3453 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3327 | |
| Elder Ray (13): | 0.0066 | |
| Super Trend (3,10): | 1.3588 | |
| Zig ZAG (10): | 1.3545 | |
| VORTEX (21): | 0.8762 | |
| Stochastique (14,3,5): | 84.46 | |
| TEMA (21): | 1.3436 | |
| Williams %R (14): | -8.99 | |
| Chande Momentum Oscillator (20): | 0.0048 | |
| Repulse (5,40,3): | 0.6843 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0509 | |
| Courbe Coppock: | 0.73 |
| MA7: | 1.3455 | |
| MA20: | 1.3474 | |
| MA50: | 1.3571 | |
| MA100: | 1.3528 | |
| MAexp7: | 1.3484 | |
| MAexp20: | 1.3496 | |
| MAexp50: | 1.3527 | |
| MAexp100: | 1.3503 | |
| Price / MA7: | +0.67% | |
| Price / MA20: | +0.53% | |
| Price / MA50: | -0.19% | |
| Price / MA100: | +0.13% | |
| Price / MAexp7: | +0.45% | |
| Price / MAexp20: | +0.36% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | +0.31% |
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: 21/04/2023 - USDCAD rebounds strongly from April lows
-
Trading the Trend: Long USD/CAD
-
Technical Analysis: 12/04/2023 - USDCAD posts bearish cross within SMAs
-
Technical Analysis: 06/04/2023 - USDCAD recoups some losses after decline halts
-
Technical Analysis: 31/03/2023 - Is the sell-off in USDCAD overdone?
This member declared not having a position on this financial instrument or a related financial instrument.
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