USD/CAD - Daily - Technical analysis published on 03/19/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 1.3453 CAD
My targets
1.3688 CAD (+0.0126)
1.3809 CAD (+0.0247)
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 1.3453 CAD. The next resistance located at 1.3688 CAD is the next bullish target 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 1.3809 CAD. After this resistance, buyers could then target 1.3876 CAD.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.9
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Additional analysis
Quotes
USD/CAD rating 1.3562 CAD. The price has increased by +0.19% since the last closing and was between 1.3534 CAD and 1.3614 CAD. This implies that the price is at +0.21% from its lowest and at -0.38% from its highest.1.3534
1.3614
1.3562
Here is a more detailed summary of the historical variations registered by USD/CAD:
Near a new LOW record (1 year)
Type : Bearish
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 bullish. 71.43% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Near resistance of triangle
Type : Bearish
Timeframe : Daily
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 | 1.3197 | 1.3453 | 1.3525 | 1.3562 | 1.3591 | 1.3688 | 1.3809 |
| Change (%) | -2.69% | -0.80% | -0.27% | - | +0.21% | +0.93% | +1.82% |
| Change | -0.0365 | -0.0109 | -0.0037 | - | +0.0029 | +0.0126 | +0.0247 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3490 | 1.3505 | 1.3521 | 1.3536 | 1.3552 | 1.3567 | 1.3583 |
| Camarilla | 1.3528 | 1.3530 | 1.3533 | 1.3536 | 1.3539 | 1.3542 | 1.3545 |
| Woodie | 1.3490 | 1.3505 | 1.3521 | 1.3536 | 1.3552 | 1.3567 | 1.3583 |
| Fibonacci | 1.3505 | 1.3517 | 1.3525 | 1.3536 | 1.3548 | 1.3556 | 1.3567 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3386 | 1.3423 | 1.3479 | 1.3516 | 1.3572 | 1.3609 | 1.3665 |
| Camarilla | 1.3510 | 1.3519 | 1.3528 | 1.3536 | 1.3545 | 1.3553 | 1.3562 |
| Woodie | 1.3397 | 1.3428 | 1.3490 | 1.3521 | 1.3583 | 1.3614 | 1.3676 |
| Fibonacci | 1.3423 | 1.3458 | 1.3480 | 1.3516 | 1.3551 | 1.3573 | 1.3609 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3180 | 1.3272 | 1.3421 | 1.3513 | 1.3662 | 1.3754 | 1.3903 |
| Camarilla | 1.3503 | 1.3525 | 1.3547 | 1.3569 | 1.3591 | 1.3613 | 1.3635 |
| Woodie | 1.3208 | 1.3286 | 1.3449 | 1.3527 | 1.3690 | 1.3768 | 1.3931 |
| Fibonacci | 1.3272 | 1.3364 | 1.3421 | 1.3513 | 1.3605 | 1.3662 | 1.3754 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.22 | |
| MACD (12,26,9): | 0.0011 | |
| Directional Movement: | 10.1892 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.3533 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3420 | |
| Elder Ray (13): | 0.0052 | |
| Super Trend (3,10): | 1.3407 | |
| Zig ZAG (10): | 1.3563 | |
| VORTEX (21): | 1.0536 | |
| Stochastique (14,3,5): | 65.98 | |
| TEMA (21): | 1.3531 | |
| Williams %R (14): | -26.80 | |
| Chande Momentum Oscillator (20): | 0.0000 | |
| Repulse (5,40,3): | 0.1187 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0123 | |
| Courbe Coppock: | 0.21 |
| MA7: | 1.3515 | |
| MA20: | 1.3522 | |
| MA50: | 1.3488 | |
| MA100: | 1.3522 | |
| MAexp7: | 1.3528 | |
| MAexp20: | 1.3517 | |
| MAexp50: | 1.3501 | |
| MAexp100: | 1.3505 | |
| Price / MA7: | +0.35% | |
| Price / MA20: | +0.30% | |
| Price / MA50: | +0.55% | |
| Price / MA100: | +0.30% | |
| Price / MAexp7: | +0.25% | |
| Price / MAexp20: | +0.33% | |
| Price / MAexp50: | +0.45% | |
| Price / MAexp100: | +0.42% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/CAD at the time of the analysis were as follows:
-
USD/CAD Forecast March 20, 2024
-
Technical Analysis: 15/03/2024 - Is USDCAD poised for another bullish round?
-
Technical Analysis: 08/03/2024 - USDCAD loses 1% after pullback from 1.3600
-
Technical Analysis: 23/02/2024 – USDCAD uptrend loses power
-
Technical Analysis: 16/02/2024 - USDCAD retains upside pressure in ascending channel
This member declared not having a position on this financial instrument or a related financial instrument.
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