USD/CAD - 1H - Technical analysis published on 05/16/2024 (GMT)
- 76
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bearish
Technical indicators
72%
6%
22%
My opinion
Neutral between 1.3594 CAD and 1.3661 CAD
My targets
-
My analysis
The basic trend is slightly bearish and the short term is tentatively bullish. With such a pattern, it is difficult to favour buying or selling. The first resistance is located at 1.3661 CAD. The first support is located at 1.3594 CAD. Without a basic trend, it is be important to monitor the price reaction at the first levels of resistance or support. A bullish break in resistance could quickly reverse the basic trend. A bearish break in the support would be welcome to boost the slightly bearish basic trend. On the other hand, if the price is blocked by resistance or support, it could be attractive to trade against the trend on the last short-term movement registered by USD/CAD.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
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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 1.3630 CAD. On the day, this instrument gained +0.24% with the lowest point at 1.3590 CAD and the highest point at 1.3635 CAD. The deviation from the price is +0.29% for the low point and -0.04% for the high point.1.3590
1.3635
1.3630
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
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/CAD in 1H shows an overall slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this overall trend could be reversed. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
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 | 1.3453 | 1.3525 | 1.3594 | 1.3630 | 1.3634 | 1.3661 | 1.3686 |
| Change (%) | -1.30% | -0.77% | -0.26% | - | +0.03% | +0.23% | +0.41% |
| Change | -0.0177 | -0.0105 | -0.0036 | - | +0.0004 | +0.0031 | +0.0056 |
| Level | Intermediate | Minor | Major | - | Intermediate | Minor | 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 | 1.3501 | 1.3545 | 1.3572 | 1.3616 | 1.3643 | 1.3687 | 1.3714 |
| Camarilla | 1.3579 | 1.3585 | 1.3592 | 1.3598 | 1.3605 | 1.3611 | 1.3618 |
| Woodie | 1.3492 | 1.3541 | 1.3563 | 1.3612 | 1.3634 | 1.3683 | 1.3705 |
| Fibonacci | 1.3545 | 1.3573 | 1.3589 | 1.3616 | 1.3644 | 1.3660 | 1.3687 |
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): | 57.32 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | 5.7327 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 1.3617 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3595 | |
| Elder Ray (13): | 0.0011 | |
| Super Trend (3,10): | 1.3634 | |
| Zig ZAG (10): | 1.3631 | |
| VORTEX (21): | 1.1827 | |
| Stochastique (14,3,5): | 94.07 | |
| TEMA (21): | 1.3626 | |
| Williams %R (14): | -11.11 | |
| Chande Momentum Oscillator (20): | 0.0040 | |
| Repulse (5,40,3): | 0.0333 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0050 | |
| Courbe Coppock: | 0.34 |
| MA7: | 1.3661 | |
| MA20: | 1.3685 | |
| MA50: | 1.3629 | |
| MA100: | 1.3544 | |
| MAexp7: | 1.3626 | |
| MAexp20: | 1.3620 | |
| MAexp50: | 1.3630 | |
| MAexp100: | 1.3647 | |
| Price / MA7: | -0.23% | |
| Price / MA20: | -0.40% | |
| Price / MA50: | +0.01% | |
| Price / MA100: | +0.63% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | -0% | |
| Price / MAexp100: | -0.12% |
Quotes :
-
Real time data
-
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?
-
USD/CAD Forecast May 8, 2024
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USD/CAD Forecast May 2, 2024
-
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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