USD/CAD - Daily - Technical analysis published on 10/16/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.3613 CAD
My targets
1.3873 CAD (+0.0084)
1.4534 CAD (+0.0745)
My analysis
USD/CAD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.3613 CAD. The next resistance located at 1.3873 CAD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.4534 CAD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
7.7
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This analysis was given by Scorpus. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3789 CAD. The price has increased by +0.07% since the last closing and was between 1.3772 CAD and 1.3793 CAD. This implies that the price is at +0.12% from its lowest and at -0.03% from its highest.1.3772
1.3793
1.3789
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this USD/CAD chart shows a strongly bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : Daily
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3525 | 1.3613 | 1.3735 | 1.3789 | 1.3819 | 1.3873 | 1.4534 |
| Change (%) | -1.91% | -1.28% | -0.39% | - | +0.22% | +0.61% | +5.40% |
| Change | -0.0264 | -0.0176 | -0.0054 | - | +0.0030 | +0.0084 | +0.0745 |
| Level | Minor | Major | Intermediate | - | Major | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3685 | 1.3727 | 1.3754 | 1.3796 | 1.3823 | 1.3865 | 1.3892 |
| Camarilla | 1.3761 | 1.3767 | 1.3774 | 1.3780 | 1.3786 | 1.3793 | 1.3799 |
| Woodie | 1.3677 | 1.3723 | 1.3746 | 1.3792 | 1.3815 | 1.3861 | 1.3884 |
| Fibonacci | 1.3727 | 1.3754 | 1.3770 | 1.3796 | 1.3823 | 1.3839 | 1.3865 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3407 | 1.3487 | 1.3624 | 1.3704 | 1.3841 | 1.3921 | 1.4058 |
| Camarilla | 1.3701 | 1.3721 | 1.3741 | 1.3761 | 1.3781 | 1.3801 | 1.3821 |
| Woodie | 1.3436 | 1.3501 | 1.3653 | 1.3718 | 1.3870 | 1.3935 | 1.4087 |
| Fibonacci | 1.3487 | 1.3570 | 1.3621 | 1.3704 | 1.3787 | 1.3838 | 1.3921 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3185 | 1.3302 | 1.3414 | 1.3531 | 1.3643 | 1.3760 | 1.3872 |
| Camarilla | 1.3463 | 1.3484 | 1.3505 | 1.3526 | 1.3547 | 1.3568 | 1.3589 |
| Woodie | 1.3183 | 1.3301 | 1.3412 | 1.3530 | 1.3641 | 1.3759 | 1.3870 |
| Fibonacci | 1.3302 | 1.3390 | 1.3444 | 1.3531 | 1.3619 | 1.3673 | 1.3760 |
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): | 69.66 | |
| MACD (12,26,9): | 0.0057 | |
| Directional Movement: | 25.5611 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 1.3711 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3641 | |
| Elder Ray (13): | 0.0095 | |
| Super Trend (3,10): | 1.3621 | |
| Zig ZAG (10): | 1.3791 | |
| VORTEX (21): | 1.1433 | |
| Stochastique (14,3,5): | 90.22 | |
| TEMA (21): | 1.3776 | |
| Williams %R (14): | -13.87 | |
| Chande Momentum Oscillator (20): | 0.0262 | |
| Repulse (5,40,3): | 0.2727 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0268 | |
| Courbe Coppock: | 3.46 |
| MA7: | 1.3749 | |
| MA20: | 1.3604 | |
| MA50: | 1.3596 | |
| MA100: | 1.3657 | |
| MAexp7: | 1.3740 | |
| MAexp20: | 1.3653 | |
| MAexp50: | 1.3626 | |
| MAexp100: | 1.3632 | |
| Price / MA7: | +0.29% | |
| Price / MA20: | +1.36% | |
| Price / MA50: | +1.42% | |
| Price / MA100: | +0.97% | |
| Price / MAexp7: | +0.36% | |
| Price / MAexp20: | +1.00% | |
| Price / MAexp50: | +1.20% | |
| Price / MAexp100: | +1.15% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on USD/CAD. At the time of publication of this analysis, the latest news was as follows:
-
USD/CAD Forecast October 4, 2024
-
USD/CAD Forecast October 2, 2024
-
USD/CAD Forecast September 27, 2024
-
USD/CAD Forecast September 25, 2024
-
USD/CAD Forecast September 24, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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