USD/CAD - 1H - Technical analysis published on 04/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
22%
61%
My opinion
Bullish above 1.3648 CAD
My targets
1.3742 CAD (+0.0058)
1.3809 CAD (+0.0125)
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 1.3648 CAD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.3742 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 1.3809 CAD as an objective. Crossing it would then enable buyers to target 1.3876 CAD. If the support 1.3648 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, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
3
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.3684 CAD. The price registered a decrease of -0.03% on the session and was traded between 1.3661 CAD and 1.3726 CAD over the period. The price is currently at +0.17% from its lowest and -0.31% from its highest.1.3661
1.3726
1.3684
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
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 1H chart of USD/CAD indicates that the overall trend is bullish. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3525 | 1.3595 | 1.3648 | 1.3684 | 1.3688 | 1.3809 | 1.3876 |
| Change (%) | -1.16% | -0.65% | -0.26% | - | +0.03% | +0.91% | +1.40% |
| Change | -0.0159 | -0.0089 | -0.0036 | - | +0.0004 | +0.0125 | +0.0192 |
| Level | Intermediate | Major | Minor | - | Major | Minor | 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 | 1.3448 | 1.3502 | 1.3595 | 1.3649 | 1.3742 | 1.3796 | 1.3889 |
| Camarilla | 1.3648 | 1.3661 | 1.3675 | 1.3688 | 1.3702 | 1.3715 | 1.3728 |
| Woodie | 1.3468 | 1.3512 | 1.3615 | 1.3659 | 1.3762 | 1.3806 | 1.3909 |
| Fibonacci | 1.3502 | 1.3558 | 1.3593 | 1.3649 | 1.3705 | 1.3740 | 1.3796 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3325 | 1.3402 | 1.3495 | 1.3572 | 1.3665 | 1.3742 | 1.3835 |
| Camarilla | 1.3542 | 1.3558 | 1.3573 | 1.3589 | 1.3605 | 1.3620 | 1.3636 |
| Woodie | 1.3334 | 1.3406 | 1.3504 | 1.3576 | 1.3674 | 1.3746 | 1.3844 |
| Fibonacci | 1.3402 | 1.3467 | 1.3507 | 1.3572 | 1.3637 | 1.3677 | 1.3742 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3238 | 1.3329 | 1.3432 | 1.3523 | 1.3626 | 1.3717 | 1.3820 |
| Camarilla | 1.3482 | 1.3499 | 1.3517 | 1.3535 | 1.3553 | 1.3571 | 1.3588 |
| Woodie | 1.3244 | 1.3332 | 1.3438 | 1.3526 | 1.3632 | 1.3720 | 1.3826 |
| Fibonacci | 1.3329 | 1.3403 | 1.3449 | 1.3523 | 1.3597 | 1.3643 | 1.3717 |
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): | 51.83 | |
| MACD (12,26,9): | 0.0009 | |
| Directional Movement: | 0.0593 | |
| AROON (14): | 21.4286 | |
| DEMA (21): | 1.3699 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3678 | |
| Elder Ray (13): | -0.0001 | |
| Super Trend (3,10): | 1.3663 | |
| Zig ZAG (10): | 1.3684 | |
| VORTEX (21): | 1.0034 | |
| Stochastique (14,3,5): | 42.05 | |
| TEMA (21): | 1.3692 | |
| Williams %R (14): | -64.62 | |
| Chande Momentum Oscillator (20): | -0.0002 | |
| Repulse (5,40,3): | -0.0218 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0136 | |
| Courbe Coppock: | 0.07 |
| MA7: | 1.3596 | |
| MA20: | 1.3569 | |
| MA50: | 1.3532 | |
| MA100: | 1.3490 | |
| MAexp7: | 1.3689 | |
| MAexp20: | 1.3685 | |
| MAexp50: | 1.3658 | |
| MAexp100: | 1.3628 | |
| Price / MA7: | +0.65% | |
| Price / MA20: | +0.85% | |
| Price / MA50: | +1.12% | |
| Price / MA100: | +1.44% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | +0.19% | |
| Price / MAexp100: | +0.41% |
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 April 10, 2024
-
Technical Analysis: 05/03/2024 - USDCAD ticks higher within ascending channel
-
Technical Analysis: 29/03/2024 - USDCAD pauses four-day slide
-
Technical Analysis: 22/03/2024 - Is there stronger bullish trend for USDCAD?
-
USD/CAD Forecast March 20, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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