USD/CAD - 1H - Technical analysis published on 05/14/2024 (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
39%
28%
33%
My opinion
Bearish under 1.3686 CAD
My targets
1.3634 CAD (-0.0025)
1.3609 CAD (-0.0050)
My analysis
The bearish trend is currently very strong for USD/CAD. As long as the price remains below the resistance at 1.3686 CAD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.3634 CAD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.3609 CAD as an objective. Crossing it would then enable sellers to target 1.3525 CAD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5.7
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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 1.3659 CAD. The price registered a decrease of -0.05% on the session and was traded between 1.3633 CAD and 1.3691 CAD over the period. The price is currently at +0.19% from its lowest and -0.23% from its highest.1.3633
1.3691
1.3659
A study of price movements over other periods shows the following variations:
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 this 1H chart of USD/CAD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, of the 18 technical indicators analysed by Central Analyzer, 7 are bullish, 6 are neutral and 5 are bearish. The Central Indicators scanner found this result concerning these indicators:
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
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 this inversion signal that could impact the current short-term trend:
White gravestone / inverted hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3609 | 1.3634 | 1.3648 | 1.3659 | 1.3660 | 1.3686 | 1.3715 |
| Change (%) | -0.37% | -0.18% | -0.08% | - | +0.01% | +0.20% | +0.41% |
| Change | -0.0050 | -0.0025 | -0.0011 | - | +0.0001 | +0.0027 | +0.0056 |
| Level | Minor | Minor | Minor | - | Intermediate | Major | 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 | 1.3621 | 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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 47.29 | |
| MACD (12,26,9): | -0.0006 | |
| Directional Movement: | 11.3543 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 1.3657 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3688 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 1.3678 | |
| Zig ZAG (10): | 1.3663 | |
| VORTEX (21): | 0.9763 | |
| Stochastique (14,3,5): | 43.68 | |
| TEMA (21): | 1.3654 | |
| Williams %R (14): | -48.28 | |
| Chande Momentum Oscillator (20): | -0.0016 | |
| Repulse (5,40,3): | 0.0372 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0043 | |
| Courbe Coppock: | 0.30 |
| MA7: | 1.3687 | |
| MA20: | 1.3701 | |
| MA50: | 1.3624 | |
| MA100: | 1.3536 | |
| MAexp7: | 1.3657 | |
| MAexp20: | 1.3664 | |
| MAexp50: | 1.3672 | |
| MAexp100: | 1.3681 | |
| Price / MA7: | -0.20% | |
| Price / MA20: | -0.31% | |
| Price / MA50: | +0.26% | |
| Price / MA100: | +0.91% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.04% | |
| Price / MAexp50: | -0.10% | |
| Price / MAexp100: | -0.16% |
Quotes :
-
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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Trade of the Week: Time to go long USDCAD?
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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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