USD/CAD - 1H - Technical analysis published on 05/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
61%
22%
17%
My opinion
Bearish under 1.3715 CAD
My targets
1.3648 CAD (-0.0034)
1.3609 CAD (-0.0073)
My analysis
USD/CAD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.3715 CAD. The next support located at 1.3648 CAD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.3609 CAD. Below this support, sellers could then target 1.3594 CAD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
4.5
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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 rating is 1.3682 CAD. The price registered an increase of +0.03% on the session with the lowest point at 1.3674 CAD and the highest point at 1.3691 CAD. The deviation from the price is +0.06% for the low point and -0.07% for the high point.1.3674
1.3691
1.3682
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/CAD chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 11 are bullish, 3 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 1.3594 | 1.3609 | 1.3648 | 1.3682 | 1.3683 | 1.3715 | 1.3745 |
Change (%) | -0.64% | -0.53% | -0.25% | - | +0.01% | +0.24% | +0.46% |
Change | -0.0088 | -0.0073 | -0.0034 | - | +0.0001 | +0.0033 | +0.0063 |
Level | Intermediate | Intermediate | Intermediate | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.3588 | 1.3630 | 1.3654 | 1.3696 | 1.3720 | 1.3762 | 1.3786 |
Camarilla | 1.3660 | 1.3666 | 1.3672 | 1.3678 | 1.3684 | 1.3690 | 1.3696 |
Woodie | 1.3579 | 1.3626 | 1.3645 | 1.3692 | 1.3711 | 1.3758 | 1.3777 |
Fibonacci | 1.3630 | 1.3655 | 1.3671 | 1.3696 | 1.3721 | 1.3737 | 1.3762 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.3426 | 1.3517 | 1.3602 | 1.3693 | 1.3778 | 1.3869 | 1.3954 |
Camarilla | 1.3638 | 1.3654 | 1.3670 | 1.3686 | 1.3702 | 1.3718 | 1.3734 |
Woodie | 1.3422 | 1.3516 | 1.3598 | 1.3692 | 1.3774 | 1.3868 | 1.3950 |
Fibonacci | 1.3517 | 1.3585 | 1.3626 | 1.3693 | 1.3761 | 1.3802 | 1.3869 |
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): | 38.15 | |
MACD (12,26,9): | -0.0008 | |
Directional Movement: | -15.0799 | |
AROON (14): | 28.5714 | |
DEMA (21): | 1.3677 | |
Parabolic SAR (0,02-0,02-0,2): | 1.3674 | |
Elder Ray (13): | -0.0005 | |
Super Trend (3,10): | 1.3703 | |
Zig ZAG (10): | 1.3683 | |
VORTEX (21): | 0.7684 | |
Stochastique (14,3,5): | 55.56 | |
TEMA (21): | 1.3676 | |
Williams %R (14): | -42.11 | |
Chande Momentum Oscillator (20): | 0.0007 | |
Repulse (5,40,3): | 0.0193 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0116 | |
Courbe Coppock: | 0.10 |
MA7: | 1.3692 | |
MA20: | 1.3716 | |
MA50: | 1.3621 | |
MA100: | 1.3528 | |
MAexp7: | 1.3684 | |
MAexp20: | 1.3690 | |
MAexp50: | 1.3702 | |
MAexp100: | 1.3703 | |
Price / MA7: | -0.07% | |
Price / MA20: | -0.25% | |
Price / MA50: | +0.45% | |
Price / MA100: | +1.14% | |
Price / MAexp7: | -0.01% | |
Price / MAexp20: | -0.06% | |
Price / MAexp50: | -0.15% | |
Price / MAexp100: | -0.15% |
Quotes :
-
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 May 8, 2024
- 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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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