USD/CAD - 1H - Technical analysis published on 04/12/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.3688 CAD
My targets
1.3809 CAD (+0.0071)
1.3876 CAD (+0.0138)
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 1.3688 CAD. The buyers' bullish objective is set at 1.3809 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.3876 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
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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 price is 1.3738 CAD. The price has increased by +0.37% since the last closing and was between 1.3682 CAD and 1.3739 CAD. This implies that the price is at +0.41% from its lowest and at -0.01% from its highest.1.3682
1.3739
1.3738
A study of price movements over other periods shows the following variations:
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
A technical analysis in 1H of this USD/CAD chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 1.3661 | 1.3688 | 1.3726 | 1.3738 | 1.3809 | 1.3876 | 1.4567 |
| Change (%) | -0.56% | -0.36% | -0.09% | - | +0.52% | +1.00% | +6.03% |
| Change | -0.0077 | -0.0050 | -0.0012 | - | +0.0071 | +0.0138 | +0.0829 |
| Level | Minor | Major | Intermediate | - | Minor | Major | Minor |
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 | 1.3592 | 1.3626 | 1.3657 | 1.3691 | 1.3722 | 1.3756 | 1.3787 |
| Camarilla | 1.3669 | 1.3675 | 1.3681 | 1.3687 | 1.3693 | 1.3699 | 1.3705 |
| Woodie | 1.3590 | 1.3625 | 1.3655 | 1.3690 | 1.3720 | 1.3755 | 1.3785 |
| Fibonacci | 1.3626 | 1.3651 | 1.3667 | 1.3691 | 1.3716 | 1.3732 | 1.3756 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 71.71 | |
| MACD (12,26,9): | 0.0014 | |
| Directional Movement: | 23.4001 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.3722 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3688 | |
| Elder Ray (13): | 0.0025 | |
| Super Trend (3,10): | 1.3702 | |
| Zig ZAG (10): | 1.3736 | |
| VORTEX (21): | 1.2677 | |
| Stochastique (14,3,5): | 95.82 | |
| TEMA (21): | 1.3723 | |
| Williams %R (14): | -3.45 | |
| Chande Momentum Oscillator (20): | 0.0045 | |
| Repulse (5,40,3): | 0.1612 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0105 | |
| Courbe Coppock: | 0.41 |
| MA7: | 1.3627 | |
| MA20: | 1.3579 | |
| MA50: | 1.3538 | |
| MA100: | 1.3491 | |
| MAexp7: | 1.3722 | |
| MAexp20: | 1.3704 | |
| MAexp50: | 1.3677 | |
| MAexp100: | 1.3644 | |
| Price / MA7: | +0.81% | |
| Price / MA20: | +1.17% | |
| Price / MA50: | +1.48% | |
| Price / MA100: | +1.83% | |
| Price / MAexp7: | +0.12% | |
| Price / MAexp20: | +0.25% | |
| Price / MAexp50: | +0.45% | |
| Price / MAexp100: | +0.69% |
Quotes :
-
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:
-
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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