EUR/CAD - 1H - Technical analysis published on 05/15/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.4787 CAD
My targets
1.4908 CAD (+0.0101)
1.5074 CAD (+0.0267)
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 1.4787 CAD. The buyers' bullish objective is set at 1.4908 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.5074 CAD. If there is any crossing, the next objective would be the resistance located at 1.5445 CAD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
8.9
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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 price is 1.4807 CAD. The price has increased by +0.28% since the last closing with the lowest point at 1.4753 CAD and the highest point at 1.4815 CAD. The deviation from the price is +0.37% for the low point and -0.05% for the high point.1.4753
1.4815
1.4807
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
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/CAD in 1H shows a strongly overall bullish trend. 92.86% 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.
In fact, 16 technical indicators on 18 studied are currently positioned bullish. 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 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel 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 | 1.4757 | 1.4774 | 1.4787 | 1.4807 | 1.4908 | 1.5074 | 1.5445 |
| Change (%) | -0.34% | -0.22% | -0.14% | - | +0.68% | +1.80% | +4.31% |
| Change | -0.0050 | -0.0033 | -0.0020 | - | +0.0101 | +0.0267 | +0.0638 |
| Level | Major | Intermediate | Minor | - | Minor | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4699 | 1.4720 | 1.4742 | 1.4763 | 1.4785 | 1.4806 | 1.4828 |
| Camarilla | 1.4753 | 1.4757 | 1.4761 | 1.4765 | 1.4769 | 1.4773 | 1.4777 |
| Woodie | 1.4701 | 1.4720 | 1.4744 | 1.4763 | 1.4787 | 1.4806 | 1.4830 |
| Fibonacci | 1.4720 | 1.4736 | 1.4746 | 1.4763 | 1.4779 | 1.4789 | 1.4806 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4594 | 1.4644 | 1.4686 | 1.4736 | 1.4778 | 1.4828 | 1.4870 |
| Camarilla | 1.4702 | 1.4710 | 1.4719 | 1.4727 | 1.4735 | 1.4744 | 1.4752 |
| Woodie | 1.4589 | 1.4642 | 1.4681 | 1.4734 | 1.4773 | 1.4826 | 1.4865 |
| Fibonacci | 1.4644 | 1.4680 | 1.4701 | 1.4736 | 1.4772 | 1.4793 | 1.4828 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 67.62 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 21.0688 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 1.4792 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4766 | |
| Elder Ray (13): | 0.0016 | |
| Super Trend (3,10): | 1.4765 | |
| Zig ZAG (10): | 1.4805 | |
| VORTEX (21): | 1.1379 | |
| Stochastique (14,3,5): | 74.19 | |
| TEMA (21): | 1.4797 | |
| Williams %R (14): | -16.13 | |
| Chande Momentum Oscillator (20): | 0.0044 | |
| Repulse (5,40,3): | 0.1339 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0063 | |
| Courbe Coppock: | 0.38 |
| MA7: | 1.4758 | |
| MA20: | 1.4697 | |
| MA50: | 1.4697 | |
| MA100: | 1.4655 | |
| MAexp7: | 1.4793 | |
| MAexp20: | 1.4780 | |
| MAexp50: | 1.4768 | |
| MAexp100: | 1.4758 | |
| Price / MA7: | +0.33% | |
| Price / MA20: | +0.75% | |
| Price / MA50: | +0.75% | |
| Price / MA100: | +1.04% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +0.26% | |
| Price / MAexp100: | +0.33% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on EUR/CAD at the time of the analysis were 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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