EUR/CAD - 1H - Technical analysis published on 05/16/2024 (GMT)
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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
44%
28%
28%
My opinion
Bullish above 1.4774 CAD
My targets
1.4908 CAD (+0.0097)
1.5074 CAD (+0.0263)
My analysis
The bullish trend is currently very strong on EUR/CAD. As long as the price remains above the support at 1.4774 CAD, you could try to benefit from the boom. The first bullish objective is located at 1.4908 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.5074 CAD as an objective. Crossing it would then enable buyers to target 1.5445 CAD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
6.6
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Additional analysis
Quotes
EUR/CAD rating 1.4811 CAD. The price registered an increase of +0.03% on the session and was traded between 1.4803 CAD and 1.4822 CAD over the period. The price is currently at +0.05% from its lowest and -0.07% from its highest.1.4803
1.4822
1.4811
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. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, of the 18 technical indicators analysed by Central Analyzer, 8 are bullish, 5 are neutral and 5 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
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 | 1.4740 | 1.4757 | 1.4774 | 1.4811 | 1.4815 | 1.4908 | 1.5074 |
| Change (%) | -0.48% | -0.36% | -0.25% | - | +0.03% | +0.65% | +1.78% |
| Change | -0.0071 | -0.0054 | -0.0037 | - | +0.0004 | +0.0097 | +0.0263 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Minor | Major |
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 | 1.4706 | 1.4729 | 1.4768 | 1.4791 | 1.4830 | 1.4853 | 1.4892 |
| Camarilla | 1.4789 | 1.4795 | 1.4800 | 1.4806 | 1.4812 | 1.4817 | 1.4823 |
| Woodie | 1.4713 | 1.4733 | 1.4775 | 1.4795 | 1.4837 | 1.4857 | 1.4899 |
| Fibonacci | 1.4729 | 1.4753 | 1.4768 | 1.4791 | 1.4815 | 1.4830 | 1.4853 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.68 | |
| MACD (12,26,9): | 0.0009 | |
| Directional Movement: | 10.4322 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.4818 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4800 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 1.4787 | |
| Zig ZAG (10): | 1.4812 | |
| VORTEX (21): | 1.0762 | |
| Stochastique (14,3,5): | 67.47 | |
| TEMA (21): | 1.4818 | |
| Williams %R (14): | -57.89 | |
| Chande Momentum Oscillator (20): | 0.0005 | |
| Repulse (5,40,3): | -0.0124 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0101 | |
| Courbe Coppock: | 0.15 |
| MA7: | 1.4766 | |
| MA20: | 1.4704 | |
| MA50: | 1.4698 | |
| MA100: | 1.4656 | |
| MAexp7: | 1.4813 | |
| MAexp20: | 1.4805 | |
| MAexp50: | 1.4788 | |
| MAexp100: | 1.4772 | |
| Price / MA7: | +0.30% | |
| Price / MA20: | +0.73% | |
| Price / MA50: | +0.77% | |
| Price / MA100: | +1.06% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.26% |
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:
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Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
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Why I'm looking to sell EURCAD: Coleman
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EUR/CAD To Hold Steady
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EUR/CAD Bullish Breakthrough
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Bullish Divergence – EURCAD
This member declared not having a position on this financial instrument or a related financial instrument.
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