USD/CAD

- CAD (-)

- Real time data - Forex

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Type:	Forex
Ticker:	USDCAD
ISIN:

USD/CAD - 1H - Technical analysis published on 04/16/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

67%

11%

22%

My opinion

Bullish above 1.3725 CAD

My targets

1.3809 CAD (+0.0015)

1.3876 CAD (+0.0082)

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 1.3725 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

7.9

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by stebetrade. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

USD/CAD rating 1.3794 CAD. On the day, this instrument gained +0.05% and was traded between 1.3784 CAD and 1.3814 CAD over the period. The price is currently at +0.07% from its lowest and -0.14% from its highest.

1.3784

1.3814

1.3794

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (1 year)

Type : Bullish

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. 92.86% 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 12 technical indicators on 18 studied are currently positioned bullish. The Central Indicators scanner found no further results concerning independent technical indicators.

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.3648	1.3688	1.3725	1.3794	1.3809	1.3876	1.4567
Change (%)	-1.06%	-0.77%	-0.50%	-	+0.11%	+0.59%	+5.60%
Change	-0.0146	-0.0106	-0.0069	-	+0.0015	+0.0082	+0.0773
Level	Minor	Intermediate	Intermediate	-	Intermediate	Major	Minor

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	1.3674	1.3700	1.3743	1.3769	1.3812	1.3838	1.3881
Camarilla	1.3768	1.3774	1.3781	1.3787	1.3793	1.3800	1.3806
Woodie	1.3684	1.3704	1.3753	1.3773	1.3822	1.3842	1.3891
Fibonacci	1.3700	1.3726	1.3742	1.3769	1.3795	1.3811	1.3838

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.3372	1.3460	1.3612	1.3700	1.3852	1.3940	1.4092
Camarilla	1.3699	1.3721	1.3743	1.3765	1.3787	1.3809	1.3831
Woodie	1.3405	1.3476	1.3645	1.3716	1.3885	1.3956	1.4125
Fibonacci	1.3460	1.3551	1.3608	1.3700	1.3791	1.3848	1.3940

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):	58.75
MACD (12,26,9):	0.0013
Directional Movement:	12.4705
AROON (14):	78.5714
DEMA (21):	1.3799
Parabolic SAR (0,02-0,02-0,2):	1.3782
Elder Ray (13):	0.0005
Super Trend (3,10):	1.3765
Zig ZAG (10):	1.3791
VORTEX (21):	1.1801
Stochastique (14,3,5):	74.80
TEMA (21):	1.3802
Williams %R (14):	-32.81
Chande Momentum Oscillator (20):	0.0020
Repulse (5,40,3):	-0.0501
ROCnROLL:	1
TRIX (15,9):	0.0119
Courbe Coppock:	0.60

MA7:	1.3695
MA20:	1.3604
MA50:	1.3549
MA100:	1.3493
MAexp7:	1.3795
MAexp20:	1.3782
MAexp50:	1.3757
MAexp100:	1.3719
Price / MA7:	+0.72%
Price / MA20:	+1.40%
Price / MA50:	+1.81%
Price / MA100:	+2.23%
Price / MAexp7:	-0.01%
Price / MAexp20:	+0.09%
Price / MAexp50:	+0.27%
Price / MAexp100:	+0.55%

Quotes : - Real time data - Forex

News

The last news published on USD/CAD at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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