USD/CAD - 1H - Technical analysis published on 01/17/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.3054 CAD
My targets
1.3105 CAD (+0.0032)
1.3147 CAD (+0.0074)
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 1.3054 CAD. The next resistance located at 1.3105 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 1.3147 CAD. After this resistance, buyers could then target 1.3336 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
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3073 CAD. On the day, this instrument gained +0.25% and was between 1.3033 CAD and 1.3075 CAD. This implies that the price is at +0.31% from its lowest and at -0.02% from its highest.1.3033
1.3075
1.3073
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this USD/CAD chart shows a strongly bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish trend is confirmed by the strong signals currently being 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
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
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 | 1.2998 | 1.3032 | 1.3054 | 1.3073 | 1.3079 | 1.3105 | 1.3147 |
| Change (%) | -0.57% | -0.31% | -0.15% | - | +0.05% | +0.24% | +0.57% |
| Change | -0.0075 | -0.0041 | -0.0019 | - | +0.0006 | +0.0032 | +0.0074 |
| Level | Major | Major | Major | - | Major | Minor | 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 | 1.3004 | 1.3018 | 1.3029 | 1.3043 | 1.3054 | 1.3068 | 1.3079 |
| Camarilla | 1.3034 | 1.3036 | 1.3039 | 1.3041 | 1.3043 | 1.3046 | 1.3048 |
| Woodie | 1.3004 | 1.3017 | 1.3029 | 1.3042 | 1.3054 | 1.3067 | 1.3079 |
| Fibonacci | 1.3018 | 1.3027 | 1.3033 | 1.3043 | 1.3052 | 1.3058 | 1.3068 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2821 | 1.2888 | 1.2970 | 1.3037 | 1.3119 | 1.3186 | 1.3268 |
| Camarilla | 1.3010 | 1.3024 | 1.3037 | 1.3051 | 1.3065 | 1.3078 | 1.3092 |
| Woodie | 1.2828 | 1.2892 | 1.2977 | 1.3041 | 1.3126 | 1.3190 | 1.3275 |
| Fibonacci | 1.2888 | 1.2945 | 1.2980 | 1.3037 | 1.3094 | 1.3129 | 1.3186 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2482 | 1.2717 | 1.2852 | 1.3087 | 1.3222 | 1.3457 | 1.3592 |
| Camarilla | 1.2886 | 1.2920 | 1.2954 | 1.2988 | 1.3022 | 1.3056 | 1.3090 |
| Woodie | 1.2433 | 1.2692 | 1.2803 | 1.3062 | 1.3173 | 1.3432 | 1.3543 |
| Fibonacci | 1.2717 | 1.2858 | 1.2945 | 1.3087 | 1.3228 | 1.3315 | 1.3457 |
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): | 71.47 | |
| MACD (12,26,9): | 0.0004 | |
| Directional Movement: | 11.9397 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 1.3054 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3039 | |
| Elder Ray (13): | 0.0013 | |
| Super Trend (3,10): | 1.3031 | |
| Zig ZAG (10): | 1.3073 | |
| VORTEX (21): | 1.0534 | |
| Stochastique (14,3,5): | 84.92 | |
| TEMA (21): | 1.3059 | |
| Williams %R (14): | -2.38 | |
| Chande Momentum Oscillator (20): | 0.0023 | |
| Repulse (5,40,3): | 0.1937 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0014 | |
| Courbe Coppock: | 0.15 |
| MA7: | 1.3056 | |
| MA20: | 1.3053 | |
| MA50: | 1.3159 | |
| MA100: | 1.3185 | |
| MAexp7: | 1.3057 | |
| MAexp20: | 1.3050 | |
| MAexp50: | 1.3049 | |
| MAexp100: | 1.3049 | |
| Price / MA7: | +0.13% | |
| Price / MA20: | +0.15% | |
| Price / MA50: | -0.65% | |
| Price / MA100: | -0.85% | |
| Price / MAexp7: | +0.12% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.18% |
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:
-
Identifying USD/CAD Price Trends with Trader Sentiment
-
Will the USD/CAD rebound continue? – 9th January 2020
-
USD/CAD turns positive
-
USD/CAD downside prevails
-
Will USD/CAD push higher? – 13th November 2019
This member declared not having a position on this financial instrument or a related financial instrument.
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