EUR/CAD - 1H - Technical analysis published on 05/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
56%
17%
28%
My opinion
Bullish above 1.4636 CAD
My targets
1.4729 CAD (+0.0037)
1.4758 CAD (+0.0066)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/CAD as long as the price remains well above 1.4636 CAD. The buyers' bullish objective is set at 1.4729 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.4758 CAD. If there is any crossing, the next objective would be the resistance located at 1.4908 CAD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
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
6.6
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/CAD rating is 1.4692 CAD. On the day, this instrument lost -0.02% and was between 1.4676 CAD and 1.4696 CAD. This implies that the price is at +0.11% from its lowest and at -0.03% from its highest.1.4676
1.4696
1.4692
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/CAD in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.4624 | 1.4636 | 1.4691 | 1.4692 | 1.4729 | 1.4758 | 1.4908 |
| Change (%) | -0.46% | -0.38% | -0.01% | - | +0.25% | +0.45% | +1.47% |
| Change | -0.0068 | -0.0056 | -0.0001 | - | +0.0037 | +0.0066 | +0.0216 |
| Level | Major | Intermediate | Minor | - | Intermediate | 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 | 1.4551 | 1.4594 | 1.4644 | 1.4687 | 1.4737 | 1.4780 | 1.4830 |
| Camarilla | 1.4669 | 1.4678 | 1.4687 | 1.4695 | 1.4704 | 1.4712 | 1.4721 |
| Woodie | 1.4556 | 1.4596 | 1.4649 | 1.4689 | 1.4742 | 1.4782 | 1.4835 |
| Fibonacci | 1.4594 | 1.4629 | 1.4651 | 1.4687 | 1.4722 | 1.4744 | 1.4780 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4458 | 1.4519 | 1.4569 | 1.4630 | 1.4680 | 1.4741 | 1.4791 |
| Camarilla | 1.4589 | 1.4599 | 1.4609 | 1.4619 | 1.4629 | 1.4639 | 1.4650 |
| Woodie | 1.4453 | 1.4516 | 1.4564 | 1.4627 | 1.4675 | 1.4738 | 1.4786 |
| Fibonacci | 1.4519 | 1.4561 | 1.4588 | 1.4630 | 1.4672 | 1.4699 | 1.4741 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4355 | 1.4450 | 1.4573 | 1.4668 | 1.4791 | 1.4886 | 1.5009 |
| Camarilla | 1.4635 | 1.4655 | 1.4675 | 1.4695 | 1.4715 | 1.4735 | 1.4755 |
| Woodie | 1.4368 | 1.4457 | 1.4586 | 1.4675 | 1.4804 | 1.4893 | 1.5022 |
| Fibonacci | 1.4450 | 1.4534 | 1.4585 | 1.4668 | 1.4752 | 1.4803 | 1.4886 |
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): | 57.76 | |
| MACD (12,26,9): | 0.0005 | |
| Directional Movement: | 3.3960 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 1.4692 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4715 | |
| Elder Ray (13): | 0.0001 | |
| Super Trend (3,10): | 1.4656 | |
| Zig ZAG (10): | 1.4692 | |
| VORTEX (21): | 1.0205 | |
| Stochastique (14,3,5): | 32.00 | |
| TEMA (21): | 1.4688 | |
| Williams %R (14): | -32.00 | |
| Chande Momentum Oscillator (20): | -0.0002 | |
| Repulse (5,40,3): | 0.0698 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0078 | |
| Courbe Coppock: | 0.11 |
| MA7: | 1.4655 | |
| MA20: | 1.4672 | |
| MA50: | 1.4684 | |
| MA100: | 1.4645 | |
| MAexp7: | 1.4686 | |
| MAexp20: | 1.4684 | |
| MAexp50: | 1.4670 | |
| MAexp100: | 1.4660 | |
| Price / MA7: | +0.25% | |
| Price / MA20: | +0.14% | |
| Price / MA50: | +0.05% | |
| Price / MA100: | +0.32% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | +0.15% | |
| Price / MAexp100: | +0.22% |
Quotes :
-
Real time data
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Forex
News
The last news published on EUR/CAD at the time of the generation of this analysis was as follows:
-
Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
-
Why I'm looking to sell EURCAD: Coleman
-
EUR/CAD To Hold Steady
-
EUR/CAD Bullish Breakthrough
-
Bullish Divergence – EURCAD
This member declared not having a position on this financial instrument or a related financial instrument.
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