USD/CAD - 1H - Technical analysis published on 05/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
0%
50%
My opinion
Bullish above 1.3442 CAD
My targets
1.3525 CAD (+0.0017)
1.3551 CAD (+0.0043)
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 1.3442 CAD. The next resistance located at 1.3525 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 1.3551 CAD. After this resistance, buyers could then target 1.3632 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.
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
7
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This analysis was given by MagicMizrahi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.3508 CAD. The price has increased by +0.04% since the last closing and was traded between 1.3485 CAD and 1.3519 CAD over the period. The price is currently at +0.17% from its lowest and -0.08% from its highest.1.3485
1.3519
1.3508
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
Technical analysis of USD/CAD in 1H shows a strongly overall bullish trend. 85.71% 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. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
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 : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3404 | 1.3442 | 1.3495 | 1.3508 | 1.3525 | 1.3551 | 1.3632 |
| Change (%) | -0.77% | -0.49% | -0.10% | - | +0.13% | +0.32% | +0.92% |
| Change | -0.0104 | -0.0066 | -0.0013 | - | +0.0017 | +0.0043 | +0.0124 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3417 | 1.3442 | 1.3473 | 1.3498 | 1.3529 | 1.3554 | 1.3585 |
| Camarilla | 1.3488 | 1.3493 | 1.3498 | 1.3503 | 1.3508 | 1.3513 | 1.3518 |
| Woodie | 1.3419 | 1.3444 | 1.3475 | 1.3500 | 1.3531 | 1.3556 | 1.3587 |
| Fibonacci | 1.3442 | 1.3464 | 1.3477 | 1.3498 | 1.3520 | 1.3533 | 1.3554 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3251 | 1.3328 | 1.3415 | 1.3492 | 1.3579 | 1.3656 | 1.3743 |
| Camarilla | 1.3458 | 1.3473 | 1.3488 | 1.3503 | 1.3518 | 1.3533 | 1.3548 |
| Woodie | 1.3257 | 1.3331 | 1.3421 | 1.3495 | 1.3585 | 1.3659 | 1.3749 |
| Fibonacci | 1.3328 | 1.3390 | 1.3429 | 1.3492 | 1.3554 | 1.3593 | 1.3656 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2979 | 1.3140 | 1.3346 | 1.3507 | 1.3713 | 1.3874 | 1.4080 |
| Camarilla | 1.3451 | 1.3485 | 1.3518 | 1.3552 | 1.3586 | 1.3619 | 1.3653 |
| Woodie | 1.3002 | 1.3151 | 1.3369 | 1.3518 | 1.3736 | 1.3885 | 1.4103 |
| Fibonacci | 1.3140 | 1.3280 | 1.3367 | 1.3507 | 1.3647 | 1.3734 | 1.3874 |
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): | 55.09 | |
| MACD (12,26,9): | 0.0003 | |
| Directional Movement: | 4.9650 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 1.3509 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3500 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 1.3471 | |
| Zig ZAG (10): | 1.3509 | |
| VORTEX (21): | 1.0530 | |
| Stochastique (14,3,5): | 59.77 | |
| TEMA (21): | 1.3509 | |
| Williams %R (14): | -37.93 | |
| Chande Momentum Oscillator (20): | 0.0014 | |
| Repulse (5,40,3): | 0.0053 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0034 | |
| Courbe Coppock: | 0.14 |
| MA7: | 1.3496 | |
| MA20: | 1.3510 | |
| MA50: | 1.3536 | |
| MA100: | 1.3509 | |
| MAexp7: | 1.3508 | |
| MAexp20: | 1.3505 | |
| MAexp50: | 1.3498 | |
| MAexp100: | 1.3490 | |
| Price / MA7: | +0.09% | |
| Price / MA20: | -0.01% | |
| Price / MA50: | -0.21% | |
| Price / MA100: | -0.01% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | +0.07% | |
| Price / MAexp100: | +0.13% |
Quotes :
-
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:
-
Technical Analysis: 12/05/2023 - USDCAD rebounds strongly above 200-day SMA
-
Technical Analysis: 28/04/2023 - USDCAD brings weekly resistance back into play
-
Technical Analysis: 21/04/2023 - USDCAD rebounds strongly from April lows
-
Trading the Trend: Long USD/CAD
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Technical Analysis: 12/04/2023 - USDCAD posts bearish cross within SMAs
This member declared not having a position on this financial instrument or a related financial instrument.
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