USD/CAD - 1H - Technical analysis published on 06/11/2024 (GMT)
- 166
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 1.3733 CAD
My targets
1.3819 CAD (+0.0032)
1.3876 CAD (+0.0089)
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 1.3733 CAD. The next resistance located at 1.3819 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 1.4534 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.
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
8.4
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 dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.3787 CAD. The price has increased by +0.20% since the last closing and was between 1.3755 CAD and 1.3787 CAD. This implies that the price is at +0.23% from its lowest and at 0% from its highest.1.3755
1.3787
1.3787
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
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. 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.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
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 | 1.3699 | 1.3733 | 1.3782 | 1.3787 | 1.3819 | 1.3876 | 1.4534 |
| Change (%) | -0.64% | -0.39% | -0.04% | - | +0.23% | +0.65% | +5.42% |
| Change | -0.0088 | -0.0054 | -0.0005 | - | +0.0032 | +0.0089 | +0.0747 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3721 | 1.3737 | 1.3749 | 1.3765 | 1.3777 | 1.3793 | 1.3805 |
| Camarilla | 1.3752 | 1.3755 | 1.3757 | 1.3760 | 1.3763 | 1.3765 | 1.3768 |
| Woodie | 1.3718 | 1.3736 | 1.3746 | 1.3764 | 1.3774 | 1.3792 | 1.3802 |
| Fibonacci | 1.3737 | 1.3748 | 1.3755 | 1.3765 | 1.3776 | 1.3783 | 1.3793 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3491 | 1.3547 | 1.3656 | 1.3712 | 1.3821 | 1.3877 | 1.3986 |
| Camarilla | 1.3720 | 1.3735 | 1.3750 | 1.3765 | 1.3780 | 1.3795 | 1.3810 |
| Woodie | 1.3518 | 1.3560 | 1.3683 | 1.3725 | 1.3848 | 1.3890 | 1.4013 |
| Fibonacci | 1.3547 | 1.3610 | 1.3649 | 1.3712 | 1.3775 | 1.3814 | 1.3877 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3358 | 1.3474 | 1.3551 | 1.3667 | 1.3744 | 1.3860 | 1.3937 |
| Camarilla | 1.3575 | 1.3593 | 1.3610 | 1.3628 | 1.3646 | 1.3663 | 1.3681 |
| Woodie | 1.3339 | 1.3464 | 1.3532 | 1.3657 | 1.3725 | 1.3850 | 1.3918 |
| Fibonacci | 1.3474 | 1.3548 | 1.3593 | 1.3667 | 1.3741 | 1.3786 | 1.3860 |
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): | 63.02 | |
| MACD (12,26,9): | 0.0005 | |
| Directional Movement: | 11.6506 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 1.3775 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3760 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 1.3750 | |
| Zig ZAG (10): | 1.3782 | |
| VORTEX (21): | 1.0795 | |
| Stochastique (14,3,5): | 78.89 | |
| TEMA (21): | 1.3774 | |
| Williams %R (14): | -30.00 | |
| Chande Momentum Oscillator (20): | 0.0019 | |
| Repulse (5,40,3): | 0.1151 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0036 | |
| Courbe Coppock: | 0.18 |
| MA7: | 1.3711 | |
| MA20: | 1.3672 | |
| MA50: | 1.3680 | |
| MA100: | 1.3595 | |
| MAexp7: | 1.3775 | |
| MAexp20: | 1.3768 | |
| MAexp50: | 1.3754 | |
| MAexp100: | 1.3732 | |
| Price / MA7: | +0.55% | |
| Price / MA20: | +0.84% | |
| Price / MA50: | +0.78% | |
| Price / MA100: | +1.41% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | +0.14% | |
| Price / MAexp50: | +0.24% | |
| Price / MAexp100: | +0.40% |
Quotes :
-
Real time data
-
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 June 11, 2024
-
USD/CAD Forecast June 10, 2024
-
USD/CAD Forecast May 30, 2024
-
USD/CAD Forecast May 28, 2024
-
USD/CAD Forecast May 24, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis USD/CAD - 1H