USD/CAD - 1H - Technical analysis published on 04/12/2024 (GMT)
- 90
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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 1.3726 CAD
My targets
1.3809 CAD (+0.0029)
1.3876 CAD (+0.0096)
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 1.3726 CAD. The next resistance located at 1.3809 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 1.3876 CAD. After this resistance, buyers could then target 1.4567 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, 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
USD/CAD rating 1.3780 CAD. The price has increased by +0.68% since the last closing with the lowest point at 1.3682 CAD and the highest point at 1.3782 CAD. The deviation from the price is +0.72% for the low point and -0.01% for the high point.1.3682
1.3782
1.3780
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
Technical analysis of this 1H chart of USD/CAD indicates that the overall trend is strongly bullish. 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.
In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
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 which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3661 | 1.3688 | 1.3726 | 1.3780 | 1.3809 | 1.3876 | 1.4567 |
| Change (%) | -0.86% | -0.67% | -0.39% | - | +0.21% | +0.70% | +5.71% |
| Change | -0.0119 | -0.0092 | -0.0054 | - | +0.0029 | +0.0096 | +0.0787 |
| 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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 75.76 | |
| MACD (12,26,9): | 0.0023 | |
| Directional Movement: | 25.4748 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.3768 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3751 | |
| Elder Ray (13): | 0.0023 | |
| Super Trend (3,10): | 1.3724 | |
| Zig ZAG (10): | 1.3780 | |
| VORTEX (21): | 1.2651 | |
| Stochastique (14,3,5): | 94.63 | |
| TEMA (21): | 1.3776 | |
| Williams %R (14): | -2.56 | |
| Chande Momentum Oscillator (20): | 0.0058 | |
| Repulse (5,40,3): | 0.1720 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0198 | |
| Courbe Coppock: | 0.94 |
| MA7: | 1.3633 | |
| MA20: | 1.3582 | |
| MA50: | 1.3539 | |
| MA100: | 1.3491 | |
| MAexp7: | 1.3764 | |
| MAexp20: | 1.3739 | |
| MAexp50: | 1.3703 | |
| MAexp100: | 1.3664 | |
| Price / MA7: | +1.08% | |
| Price / MA20: | +1.46% | |
| Price / MA50: | +1.78% | |
| Price / MA100: | +2.14% | |
| Price / MAexp7: | +0.12% | |
| Price / MAexp20: | +0.30% | |
| Price / MAexp50: | +0.56% | |
| Price / MAexp100: | +0.85% |
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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