USD/CAD - 1H - Technical analysis published on 05/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 1.3686 CAD
My targets
1.3632 CAD (-0.0036)
1.3524 CAD (-0.0144)
My analysis
In the short term, we can see an acceleration in the bearish trend on USD/CAD, which is a positive signal for sellers. As long as the price remains above 1.3686 CAD, a sale could be considered. The first bearish objective is located at 1.3632 CAD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.3524 CAD as an objective. Crossing it would then enable sellers to target 1.3453 CAD. If the price were to return above 1.3686 CAD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.4
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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 USD/CAD price is 1.3668 CAD. On the day, this instrument lost -0.42% and was traded between 1.3668 CAD and 1.3737 CAD over the period. The price is currently at 0% from its lowest and -0.50% from its highest.1.3668
1.3737
1.3668
Here is a more detailed summary of the historical variations registered by USD/CAD:
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
Technical analysis of USD/CAD in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 | 1.3524 | 1.3632 | 1.3655 | 1.3668 | 1.3674 | 1.3686 | 1.3714 |
| Change (%) | -1.05% | -0.26% | -0.10% | - | +0.04% | +0.13% | +0.34% |
| Change | -0.0144 | -0.0036 | -0.0013 | - | +0.0006 | +0.0018 | +0.0046 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Intermediate | Minor |
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 | 1.3611 | 1.3657 | 1.3691 | 1.3737 | 1.3771 | 1.3817 | 1.3851 |
| Camarilla | 1.3703 | 1.3710 | 1.3718 | 1.3725 | 1.3732 | 1.3740 | 1.3747 |
| Woodie | 1.3605 | 1.3654 | 1.3685 | 1.3734 | 1.3765 | 1.3814 | 1.3845 |
| Fibonacci | 1.3657 | 1.3688 | 1.3706 | 1.3737 | 1.3768 | 1.3786 | 1.3817 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3495 | 1.3565 | 1.3617 | 1.3687 | 1.3739 | 1.3809 | 1.3861 |
| Camarilla | 1.3637 | 1.3648 | 1.3659 | 1.3670 | 1.3681 | 1.3692 | 1.3704 |
| Woodie | 1.3487 | 1.3561 | 1.3609 | 1.3683 | 1.3731 | 1.3805 | 1.3853 |
| Fibonacci | 1.3565 | 1.3611 | 1.3640 | 1.3687 | 1.3733 | 1.3762 | 1.3809 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3187 | 1.3333 | 1.3555 | 1.3701 | 1.3923 | 1.4069 | 1.4291 |
| Camarilla | 1.3677 | 1.3711 | 1.3744 | 1.3778 | 1.3812 | 1.3846 | 1.3879 |
| Woodie | 1.3226 | 1.3352 | 1.3594 | 1.3720 | 1.3962 | 1.4088 | 1.4330 |
| Fibonacci | 1.3333 | 1.3473 | 1.3560 | 1.3701 | 1.3841 | 1.3928 | 1.4069 |
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): | 27.15 | |
| MACD (12,26,9): | -0.0018 | |
| Directional Movement: | -20.6209 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 1.3678 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3699 | |
| Elder Ray (13): | -0.0019 | |
| Super Trend (3,10): | 1.3710 | |
| Zig ZAG (10): | 1.3669 | |
| VORTEX (21): | 0.7957 | |
| Stochastique (14,3,5): | 4.91 | |
| TEMA (21): | 1.3667 | |
| Williams %R (14): | -98.39 | |
| Chande Momentum Oscillator (20): | -0.0055 | |
| Repulse (5,40,3): | -0.1051 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0157 | |
| Courbe Coppock: | 0.61 |
| MA7: | 1.3696 | |
| MA20: | 1.3700 | |
| MA50: | 1.3602 | |
| MA100: | 1.3510 | |
| MAexp7: | 1.3679 | |
| MAexp20: | 1.3699 | |
| MAexp50: | 1.3716 | |
| MAexp100: | 1.3714 | |
| Price / MA7: | -0.20% | |
| Price / MA20: | -0.23% | |
| Price / MA50: | +0.49% | |
| Price / MA100: | +1.17% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.23% | |
| Price / MAexp50: | -0.35% | |
| Price / MAexp100: | -0.34% |
Quotes :
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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 May 2, 2024
-
USD/CAD Forecast April 10, 2024
-
Technical Analysis: 05/03/2024 - USDCAD ticks higher within ascending channel
-
Technical Analysis: 29/03/2024 - USDCAD pauses four-day slide
-
Technical Analysis: 22/03/2024 - Is there stronger bullish trend for USDCAD?
This member declared not having a position on this financial instrument or a related financial instrument.
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