EUR/CAD - 1H - Technical analysis published on 05/16/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
39%
39%
My opinion
Bullish above 1.4774 CAD
My targets
1.4815 CAD (+0.0018)
1.4908 CAD (+0.0111)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/CAD. As long as you are above the support located at 1.4774 CAD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.4815 CAD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1.4908 CAD as an objective. Crossing it would then enable buyers to target 1.5074 CAD. If the support 1.4774 CAD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
2
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/CAD price is 1.4797 CAD. The price is lower by -0.06% since the last closing and was traded between 1.4794 CAD and 1.4822 CAD over the period. The price is currently at +0.02% from its lowest and -0.17% from its highest.1.4794
1.4822
1.4797
Here is a more detailed summary of the historical variations registered by EUR/CAD:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/CAD chart shows a bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
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:
White hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.4740 | 1.4757 | 1.4774 | 1.4797 | 1.4815 | 1.4908 | 1.5074 |
| Change (%) | -0.39% | -0.27% | -0.16% | - | +0.12% | +0.75% | +1.87% |
| Change | -0.0057 | -0.0040 | -0.0023 | - | +0.0018 | +0.0111 | +0.0277 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4706 | 1.4729 | 1.4768 | 1.4791 | 1.4830 | 1.4853 | 1.4892 |
| Camarilla | 1.4789 | 1.4795 | 1.4800 | 1.4806 | 1.4812 | 1.4817 | 1.4823 |
| Woodie | 1.4713 | 1.4733 | 1.4775 | 1.4795 | 1.4837 | 1.4857 | 1.4899 |
| Fibonacci | 1.4729 | 1.4753 | 1.4768 | 1.4791 | 1.4815 | 1.4830 | 1.4853 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4594 | 1.4644 | 1.4686 | 1.4736 | 1.4778 | 1.4828 | 1.4870 |
| Camarilla | 1.4702 | 1.4710 | 1.4719 | 1.4727 | 1.4735 | 1.4744 | 1.4752 |
| Woodie | 1.4589 | 1.4642 | 1.4681 | 1.4734 | 1.4773 | 1.4826 | 1.4865 |
| Fibonacci | 1.4644 | 1.4680 | 1.4701 | 1.4736 | 1.4772 | 1.4793 | 1.4828 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4355 | 1.4450 | 1.4573 | 1.4668 | 1.4791 | 1.4886 | 1.5009 |
| Camarilla | 1.4635 | 1.4655 | 1.4675 | 1.4695 | 1.4715 | 1.4735 | 1.4755 |
| Woodie | 1.4368 | 1.4457 | 1.4586 | 1.4675 | 1.4804 | 1.4893 | 1.5022 |
| Fibonacci | 1.4450 | 1.4534 | 1.4585 | 1.4668 | 1.4752 | 1.4803 | 1.4886 |
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): | 46.49 | |
| MACD (12,26,9): | 0.0002 | |
| Directional Movement: | -0.6773 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 1.4808 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4814 | |
| Elder Ray (13): | -0.0007 | |
| Super Trend (3,10): | 1.4787 | |
| Zig ZAG (10): | 1.4796 | |
| VORTEX (21): | 0.9436 | |
| Stochastique (14,3,5): | 11.21 | |
| TEMA (21): | 1.4802 | |
| Williams %R (14): | -92.86 | |
| Chande Momentum Oscillator (20): | -0.0014 | |
| Repulse (5,40,3): | -0.0457 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0052 | |
| Courbe Coppock: | 0.12 |
| MA7: | 1.4763 | |
| MA20: | 1.4704 | |
| MA50: | 1.4698 | |
| MA100: | 1.4656 | |
| MAexp7: | 1.4801 | |
| MAexp20: | 1.4803 | |
| MAexp50: | 1.4792 | |
| MAexp100: | 1.4777 | |
| Price / MA7: | +0.23% | |
| Price / MA20: | +0.63% | |
| Price / MA50: | +0.67% | |
| Price / MA100: | +0.96% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.04% | |
| Price / MAexp50: | +0.03% | |
| Price / MAexp100: | +0.14% |
Quotes :
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Real time data
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Forex
News
The last news published on EUR/CAD at the time of the generation of this analysis was as follows:
-
Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
-
Why I'm looking to sell EURCAD: Coleman
-
EUR/CAD To Hold Steady
-
EUR/CAD Bullish Breakthrough
-
Bullish Divergence – EURCAD
This member declared not having a position on this financial instrument or a related financial instrument.
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