USD/CAD - Daily - Technical analysis published on 07/16/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 1.3525 CAD
My targets
1.3735 CAD (+0.0057)
1.3819 CAD (+0.0141)
My analysis
A bullish trend on USD/CAD both in substance and in the short term. A purchase could be considered as long as the price remains above 1.3525 CAD. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 1.3735 CAD. Then the price could move towards 1.3819 CAD. Then 1.3876 CAD by extension. Be careful, a return below 1.3525 CAD would be a sign of the trend weakening and a possible correction phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend could be riskier.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
5.4
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This analysis was given by dinoc. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3678 CAD. The price has increased by +0.00% since the last closing and was traded between 1.3674 CAD and 1.3685 CAD over the period. The price is currently at +0.03% from its lowest and -0.05% from its highest.1.3674
1.3685
1.3678
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
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this USD/CAD chart shows a bullish trend. 75.00% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : Daily
The probability of a further increase are moderate given the direction of the technical indicators.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of triangle
Type : Bullish
Timeframe : Daily
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 | 1.3454 | 1.3525 | 1.3640 | 1.3678 | 1.3735 | 1.3819 | 1.3876 |
| Change (%) | -1.64% | -1.12% | -0.28% | - | +0.42% | +1.03% | +1.45% |
| Change | -0.0224 | -0.0153 | -0.0038 | - | +0.0057 | +0.0141 | +0.0198 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | 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 | 1.3585 | 1.3608 | 1.3643 | 1.3666 | 1.3701 | 1.3724 | 1.3759 |
| Camarilla | 1.3662 | 1.3667 | 1.3673 | 1.3678 | 1.3683 | 1.3689 | 1.3694 |
| Woodie | 1.3591 | 1.3611 | 1.3649 | 1.3669 | 1.3707 | 1.3727 | 1.3765 |
| Fibonacci | 1.3608 | 1.3630 | 1.3644 | 1.3666 | 1.3688 | 1.3702 | 1.3724 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3542 | 1.3565 | 1.3602 | 1.3625 | 1.3662 | 1.3685 | 1.3722 |
| Camarilla | 1.3622 | 1.3627 | 1.3633 | 1.3638 | 1.3644 | 1.3649 | 1.3655 |
| Woodie | 1.3548 | 1.3569 | 1.3608 | 1.3629 | 1.3668 | 1.3689 | 1.3728 |
| Fibonacci | 1.3565 | 1.3588 | 1.3602 | 1.3625 | 1.3648 | 1.3662 | 1.3685 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3402 | 1.3502 | 1.3591 | 1.3691 | 1.3780 | 1.3880 | 1.3969 |
| Camarilla | 1.3627 | 1.3644 | 1.3662 | 1.3679 | 1.3696 | 1.3714 | 1.3731 |
| Woodie | 1.3396 | 1.3499 | 1.3585 | 1.3688 | 1.3774 | 1.3877 | 1.3963 |
| Fibonacci | 1.3502 | 1.3575 | 1.3619 | 1.3691 | 1.3764 | 1.3808 | 1.3880 |
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): | 52.25 | |
| MACD (12,26,9): | -0.0010 | |
| Directional Movement: | 1.0332 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.3650 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3689 | |
| Elder Ray (13): | 0.0023 | |
| Super Trend (3,10): | 1.3586 | |
| Zig ZAG (10): | 1.3680 | |
| VORTEX (21): | 0.9616 | |
| Stochastique (14,3,5): | 45.78 | |
| TEMA (21): | 1.3640 | |
| Williams %R (14): | -45.78 | |
| Chande Momentum Oscillator (20): | 0.0000 | |
| Repulse (5,40,3): | 0.2843 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0124 | |
| Courbe Coppock: | 0.68 |
| MA7: | 1.3643 | |
| MA20: | 1.3665 | |
| MA50: | 1.3675 | |
| MA100: | 1.3644 | |
| MAexp7: | 1.3655 | |
| MAexp20: | 1.3663 | |
| MAexp50: | 1.3666 | |
| MAexp100: | 1.3640 | |
| Price / MA7: | +0.26% | |
| Price / MA20: | +0.10% | |
| Price / MA50: | +0.02% | |
| Price / MA100: | +0.25% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | +0.11% | |
| Price / MAexp50: | +0.09% | |
| Price / MAexp100: | +0.28% |
Quotes :
-
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 July 16, 2024
-
USD/CAD Forecast July 10, 2024
-
USD/CAD Forecast July 5, 2024
-
USD/CAD Forecast July 3, 2024
-
USD/CAD Forecast June 24, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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