USD/CAD - 1H - Technical analysis published on 02/21/2020 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 1.3235 CAD
My targets
1.3296 CAD (+0.0038)
1.3315 CAD (+0.0057)
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 1.3235 CAD. The next resistance located at 1.3296 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 1.3315 CAD. After this resistance, buyers could then target 1.3335 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
7
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Additional analysis
Quotes
The USD/CAD price is 1.3258 CAD. The price registered an increase of -0.02% on the session and was traded between 1.3245 CAD and 1.3267 CAD over the period. The price is currently at +0.10% from its lowest and -0.07% from its highest.1.3245
1.3267
1.3258
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of USD/CAD in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase are moderate given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Resistance of triangle is broken
Type : Bullish
Timeframe : 1 hour
Horizontal support is broken
Type : Bearish
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 | 1.3225 | 1.3235 | 1.3253 | 1.3258 | 1.3268 | 1.3296 | 1.3315 |
| Change (%) | -0.25% | -0.17% | -0.04% | - | +0.08% | +0.29% | +0.43% |
| Change | -0.0033 | -0.0023 | -0.0005 | - | +0.0010 | +0.0038 | +0.0057 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Minor | 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 | 1.3167 | 1.3189 | 1.3225 | 1.3247 | 1.3283 | 1.3305 | 1.3341 |
| Camarilla | 1.3245 | 1.3250 | 1.3256 | 1.3261 | 1.3266 | 1.3272 | 1.3277 |
| Woodie | 1.3174 | 1.3193 | 1.3232 | 1.3251 | 1.3290 | 1.3309 | 1.3348 |
| Fibonacci | 1.3189 | 1.3211 | 1.3225 | 1.3247 | 1.3269 | 1.3283 | 1.3305 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3119 | 1.3176 | 1.3214 | 1.3271 | 1.3309 | 1.3366 | 1.3404 |
| Camarilla | 1.3225 | 1.3234 | 1.3242 | 1.3251 | 1.3260 | 1.3268 | 1.3277 |
| Woodie | 1.3109 | 1.3171 | 1.3204 | 1.3266 | 1.3299 | 1.3361 | 1.3394 |
| Fibonacci | 1.3176 | 1.3213 | 1.3235 | 1.3271 | 1.3308 | 1.3330 | 1.3366 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2747 | 1.2852 | 1.3044 | 1.3149 | 1.3341 | 1.3446 | 1.3638 |
| Camarilla | 1.3155 | 1.3183 | 1.3210 | 1.3237 | 1.3264 | 1.3291 | 1.3319 |
| Woodie | 1.2792 | 1.2874 | 1.3089 | 1.3171 | 1.3386 | 1.3468 | 1.3683 |
| Fibonacci | 1.2852 | 1.2965 | 1.3035 | 1.3149 | 1.3262 | 1.3332 | 1.3446 |
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): | 55.59 | |
| MACD (12,26,9): | 0.0005 | |
| Directional Movement: | 2.6328 | |
| AROON (14): | 7.1429 | |
| DEMA (21): | 1.3260 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3231 | |
| Elder Ray (13): | 0.0004 | |
| Super Trend (3,10): | 1.3226 | |
| Zig ZAG (10): | 1.3258 | |
| VORTEX (21): | 1.1043 | |
| Stochastique (14,3,5): | 78.99 | |
| TEMA (21): | 1.3263 | |
| Williams %R (14): | -26.09 | |
| Chande Momentum Oscillator (20): | 0.0025 | |
| Repulse (5,40,3): | -0.0137 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0061 | |
| Courbe Coppock: | 0.09 |
| MA7: | 1.3250 | |
| MA20: | 1.3253 | |
| MA50: | 1.3147 | |
| MA100: | 1.3178 | |
| MAexp7: | 1.3258 | |
| MAexp20: | 1.3254 | |
| MAexp50: | 1.3248 | |
| MAexp100: | 1.3248 | |
| Price / MA7: | +0.06% | |
| Price / MA20: | +0.04% | |
| Price / MA50: | +0.84% | |
| Price / MA100: | +0.61% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | +0.07% | |
| Price / MAexp100: | +0.07% |
News
The latest news and videos published on USD/CAD at the time of the analysis were as follows:
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US Dollar Resistance, USD/CAD Tightening Range: Webinar
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Identifying USD/CAD Price Trends with Trader Sentiment
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Will the USD/CAD rebound continue? – 9th January 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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