USD/CAD - 1H - Technical analysis published on 05/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 1.3660 CAD
My targets
1.3609 CAD (-0.0027)
1.3525 CAD (-0.0111)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on USD/CAD as long as the price remains well below 1.3660 CAD. The sellers' bearish objective is set at 1.3609 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.3525 CAD. In case of crossing, the next objective would be the support located at 1.3453 CAD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.3
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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 1.3636 CAD. The price is lower by -0.22% since the last closing and was traded between 1.3633 CAD and 1.3691 CAD over the period. The price is currently at +0.02% from its lowest and -0.40% from its highest.1.3633
1.3691
1.3636
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
Technical analysis of USD/CAD in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3525 | 1.3609 | 1.3634 | 1.3636 | 1.3648 | 1.3660 | 1.3686 |
| Change (%) | -0.81% | -0.20% | -0.01% | - | +0.09% | +0.18% | +0.37% |
| Change | -0.0111 | -0.0027 | -0.0002 | - | +0.0012 | +0.0024 | +0.0050 |
| Level | Minor | Minor | Minor | - | Minor | Intermediate | Major |
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 | 1.3621 | 1.3639 | 1.3653 | 1.3671 | 1.3685 | 1.3703 | 1.3717 |
| Camarilla | 1.3657 | 1.3660 | 1.3663 | 1.3666 | 1.3669 | 1.3672 | 1.3675 |
| Woodie | 1.3618 | 1.3638 | 1.3650 | 1.3670 | 1.3682 | 1.3702 | 1.3714 |
| Fibonacci | 1.3639 | 1.3652 | 1.3659 | 1.3671 | 1.3684 | 1.3691 | 1.3703 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3487 | 1.3561 | 1.3616 | 1.3690 | 1.3745 | 1.3819 | 1.3874 |
| Camarilla | 1.3637 | 1.3648 | 1.3660 | 1.3672 | 1.3684 | 1.3696 | 1.3708 |
| Woodie | 1.3479 | 1.3556 | 1.3608 | 1.3685 | 1.3737 | 1.3814 | 1.3866 |
| Fibonacci | 1.3561 | 1.3610 | 1.3640 | 1.3690 | 1.3739 | 1.3769 | 1.3819 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 22.20 | |
| MACD (12,26,9): | -0.0007 | |
| Directional Movement: | 4.4090 | |
| AROON (14): | -7.1428 | |
| DEMA (21): | 1.3657 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3691 | |
| Elder Ray (13): | -0.0026 | |
| Super Trend (3,10): | 1.3669 | |
| Zig ZAG (10): | 1.3637 | |
| VORTEX (21): | 0.7892 | |
| Stochastique (14,3,5): | 6.27 | |
| TEMA (21): | 1.3652 | |
| Williams %R (14): | -94.83 | |
| Chande Momentum Oscillator (20): | -0.0047 | |
| Repulse (5,40,3): | -0.2442 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0025 | |
| Courbe Coppock: | 0.24 |
| MA7: | 1.3684 | |
| MA20: | 1.3700 | |
| MA50: | 1.3623 | |
| MA100: | 1.3535 | |
| MAexp7: | 1.3653 | |
| MAexp20: | 1.3664 | |
| MAexp50: | 1.3673 | |
| MAexp100: | 1.3682 | |
| Price / MA7: | -0.35% | |
| Price / MA20: | -0.47% | |
| Price / MA50: | +0.10% | |
| Price / MA100: | +0.75% | |
| Price / MAexp7: | -0.12% | |
| Price / MAexp20: | -0.20% | |
| Price / MAexp50: | -0.27% | |
| Price / MAexp100: | -0.34% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/CAD at the time of the analysis were as follows:
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USD/CAD Forecast May 8, 2024
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USD/CAD Forecast May 2, 2024
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USD/CAD Forecast April 10, 2024
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Technical Analysis: 05/03/2024 - USDCAD ticks higher within ascending channel
This member declared not having a position on this financial instrument or a related financial instrument.
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