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USDCAD Technical Analysis
USDCAD: NEUTRAL
BID PRICE 1.0310
EXPONENTIAL MA 20 1.0311 NEUTRAL
EXPONENTIAL MA 50 1.0309 NEUTRAL
EXPONENTIAL MA 100 1.0309 NEUTRAL
PARABOLIC SAR 0.02/0.2 1.0337 SELL
RSI 14 51.43 NEUTRAL
MACD 12,26,9 0.00028 BUY
Support: 1.0286
Pivot: 1.0303
Resistance: 1.0320
Trend: Sideways.
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Technical points
Key point 1.0333
Entry point 1.0311
Elliott 1.0275
Closing 1.0323
Projection 1.0340
trendline 1.0288
trendline 1.0301
Supports / resistances
Res 2 1.0365
Ex-High 1.0337
Res 1 1.0344
pivot 1.0316
1 soup 1.0295
Ex-Low 1.0288
Sup 2 1.0267
Slightly Bearish
Likely to fall into the range of 1.0305 - 1.0295
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Time Frame 4 H
indicator = DE MARK TREND LINE TRADER (COMBINED fractals, TREND LINE, PIVOT POINT, LINE TRIGGER)
reason = bullish hammer candle is not long enough to penetrate the trend line de mark green for acceleration into bullish mode but the pair only moving flat in the consolidation zone narrows between the two trend lines de red and green mark
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Time Frame 4 H
indicator = DE MARK TREND LINE TRADER (COMBINED fractals, TREND LINE, PIVOT POINT, LINE TRIGGER)
reason = bullish candle still hold the reflection of the bearish pivot de green mark so far this pair moving sideways just below the pivot is close but not too strong to climb higher
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The two bullish candle and a bearish candle 2 for 4 hours last indicated USDCAD is still in a relatively stable condition. Break up the upper level of the SHI channel will bring USDCAD up to the resistance level at 1.0334. While, if the SHI channel midpoint break down, the possibility of USDCAD could fall to the support level at 1.0278 price range
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