USD/CAD - 1H - Technical analysis published on 02/22/2023 (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
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 1.3479 CAD
My targets
1.3691 CAD (+0.0148)
1.3752 CAD (+0.0209)
My analysis
The bullish trend is currently very strong on USD/CAD. As long as the price remains above the support at 1.3479 CAD, you could try to benefit from the boom. The first bullish objective is located at 1.3691 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.3752 CAD as an objective. Crossing it would then enable buyers to target 1.3881 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 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
8.6
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This analysis was given by Pietertjie. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3543 CAD. The price registered an increase of +0.07% on the session and was between 1.3527 CAD and 1.3545 CAD. This implies that the price is at +0.12% from its lowest and at -0.01% from its highest.1.3527
1.3545
1.3543
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/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.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3357 | 1.3449 | 1.3479 | 1.3543 | 1.3550 | 1.3752 | 1.3881 |
| Change (%) | -1.37% | -0.69% | -0.47% | - | +0.05% | +1.54% | +2.50% |
| Change | -0.0186 | -0.0094 | -0.0064 | - | +0.0007 | +0.0209 | +0.0338 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Major | Intermediate |
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 | 1.3358 | 1.3400 | 1.3466 | 1.3508 | 1.3574 | 1.3616 | 1.3682 |
| Camarilla | 1.3503 | 1.3513 | 1.3523 | 1.3533 | 1.3543 | 1.3553 | 1.3563 |
| Woodie | 1.3371 | 1.3406 | 1.3479 | 1.3514 | 1.3587 | 1.3622 | 1.3695 |
| Fibonacci | 1.3400 | 1.3441 | 1.3466 | 1.3508 | 1.3549 | 1.3574 | 1.3616 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3056 | 1.3165 | 1.3319 | 1.3428 | 1.3582 | 1.3691 | 1.3845 |
| Camarilla | 1.3401 | 1.3425 | 1.3449 | 1.3473 | 1.3497 | 1.3521 | 1.3545 |
| Woodie | 1.3079 | 1.3176 | 1.3342 | 1.3439 | 1.3605 | 1.3702 | 1.3868 |
| Fibonacci | 1.3165 | 1.3266 | 1.3328 | 1.3428 | 1.3529 | 1.3591 | 1.3691 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2790 | 1.3045 | 1.3176 | 1.3431 | 1.3562 | 1.3817 | 1.3948 |
| Camarilla | 1.3202 | 1.3237 | 1.3273 | 1.3308 | 1.3343 | 1.3379 | 1.3414 |
| Woodie | 1.2729 | 1.3014 | 1.3115 | 1.3400 | 1.3501 | 1.3786 | 1.3887 |
| Fibonacci | 1.3045 | 1.3192 | 1.3283 | 1.3431 | 1.3578 | 1.3669 | 1.3817 |
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): | 67.31 | |
| MACD (12,26,9): | 0.0019 | |
| Directional Movement: | 17.2976 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.3538 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3508 | |
| Elder Ray (13): | 0.0017 | |
| Super Trend (3,10): | 1.3493 | |
| Zig ZAG (10): | 1.3544 | |
| VORTEX (21): | 1.1603 | |
| Stochastique (14,3,5): | 89.52 | |
| TEMA (21): | 1.3549 | |
| Williams %R (14): | -4.76 | |
| Chande Momentum Oscillator (20): | 0.0024 | |
| Repulse (5,40,3): | 0.0811 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0180 | |
| Courbe Coppock: | 0.93 |
| MA7: | 1.3458 | |
| MA20: | 1.3397 | |
| MA50: | 1.3464 | |
| MA100: | 1.3513 | |
| MAexp7: | 1.3535 | |
| MAexp20: | 1.3515 | |
| MAexp50: | 1.3491 | |
| MAexp100: | 1.3469 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | +1.09% | |
| Price / MA50: | +0.59% | |
| Price / MA100: | +0.22% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | +0.39% | |
| Price / MAexp100: | +0.55% |
Quotes :
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Real time data
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Forex
News
The last news published on USD/CAD at the time of the generation of this analysis was as follows:
-
USD/CAD Forecast February 10, 2023
-
USD/CAD Forecast February 8, 2023
-
USD/CAD Forecast February 3, 2023
-
Technical Analysis: 03/02/2023 - USDCAD rebounds off 3-month low; looks oversold
-
USD/CAD Forecast February 2, 2023
This member declared not having a position on this financial instrument or a related financial instrument.
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