USD/CAD

- CAD (-)

- Real time data - Forex

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Type:	Forex
Ticker:	USDCAD
ISIN:

USD/CAD - Weekly - Technical analysis published on 10/31/2024 (GMT)

Londinia

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

22%

My opinion

Bullish above 1.3414 CAD

My targets

1.4534 CAD (+0.0615)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/CAD as long as the price remains well above 1.3414 CAD. The buyers' bullish objective is set at 1.4534 CAD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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

8.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by shadybhai. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

USD/CAD rating 1.3919 CAD. Over 5 days, this instrument gained +0.47% with the lowest point at 1.3876 CAD and the highest point at 1.3941 CAD. The deviation from the price is +0.31% for the low point and -0.16% for the high point.

1.3876

1.3941

1.3919

Here is a more detailed summary of the historical variations registered by USD/CAD:

The Central Records scanner for higher/lower results shows the following items:

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 Weekly shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Weekly

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near resistance of channel

Type : Bearish

Timeframe : Weekly

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	1.2482	1.2981	1.3873	1.3919	1.4534
Change (%)	-10.32%	-6.74%	-0.33%	-	+4.42%
Change	-0.1437	-0.0938	-0.0046	-	+0.0615
Level	Minor	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	1.3843	1.3869	1.3889	1.3915	1.3935	1.3961	1.3981
Camarilla	1.3896	1.3901	1.3905	1.3909	1.3913	1.3917	1.3922
Woodie	1.3840	1.3868	1.3886	1.3914	1.3932	1.3960	1.3978
Fibonacci	1.3869	1.3887	1.3897	1.3915	1.3933	1.3943	1.3961

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.3725	1.3761	1.3825	1.3861	1.3925	1.3961	1.4025
Camarilla	1.3862	1.3871	1.3880	1.3889	1.3898	1.3907	1.3917
Woodie	1.3739	1.3768	1.3839	1.3868	1.3939	1.3968	1.4039
Fibonacci	1.3761	1.3799	1.3823	1.3861	1.3899	1.3923	1.3961

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 is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	64.31
MACD (12,26,9):	0.0046
Directional Movement:	14.2763
AROON (14):	-50.0000
DEMA (21):	1.3745
Parabolic SAR (0,02-0,02-0,2):	1.3446
Elder Ray (13):	0.0190
Super Trend (3,10):	1.3544
Zig ZAG (10):	1.3918
VORTEX (21):	1.1081
Stochastique (14,3,5):	85.04
TEMA (21):	1.3766
Williams %R (14):	-5.49
Chande Momentum Oscillator (20):	0.0188
Repulse (5,40,3):	1.4821
ROCnROLL:	1
TRIX (15,9):	0.0173
Courbe Coppock:	0.19

MA7:	1.3887
MA20:	1.3793
MA50:	1.3634
MA100:	1.3674
MAexp7:	1.3771
MAexp20:	1.3694
MAexp50:	1.3627
MAexp100:	1.3522
Price / MA7:	+0.23%
Price / MA20:	+0.91%
Price / MA50:	+2.09%
Price / MA100:	+1.79%
Price / MAexp7:	+1.07%
Price / MAexp20:	+1.64%
Price / MAexp50:	+2.14%
Price / MAexp100:	+2.94%

Quotes : - Real time data - Forex

News

The latest news and videos published on USD/CAD at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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