USD/CAD - 1H - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
22%
33%
My opinion
Bearish under 1.3634 CAD
My targets
1.3594 CAD (-0.0018)
1.3525 CAD (-0.0087)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 1.3634 CAD remains possible. It is advisable to trade USD/CAD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 1.3634 CAD. The next bearish objective for sellers is set at 1.3594 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. PS: if there is a bullish break in the resistance located at 1.3634 CAD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
2.9
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3612 CAD. The price registered an increase of +0.00% on the session and was between 1.3600 CAD and 1.3622 CAD. This implies that the price is at +0.09% from its lowest and at -0.07% from its highest.1.3600
1.3622
1.3612
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
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 HIGH record (1 month)
Type : Bullish
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. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 8 are bullish, 6 are neutral and 4 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
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 | 1.3525 | 1.3594 | 1.3607 | 1.3612 | 1.3634 | 1.3660 | 1.3686 |
| Change (%) | -0.64% | -0.13% | -0.04% | - | +0.16% | +0.35% | +0.54% |
| Change | -0.0087 | -0.0018 | -0.0005 | - | +0.0022 | +0.0048 | +0.0074 |
| Level | Minor | Major | Minor | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3551 | 1.3576 | 1.3594 | 1.3619 | 1.3637 | 1.3662 | 1.3680 |
| Camarilla | 1.3600 | 1.3604 | 1.3608 | 1.3612 | 1.3616 | 1.3620 | 1.3624 |
| Woodie | 1.3548 | 1.3574 | 1.3591 | 1.3617 | 1.3634 | 1.3660 | 1.3677 |
| Fibonacci | 1.3576 | 1.3592 | 1.3603 | 1.3619 | 1.3635 | 1.3646 | 1.3662 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3470 | 1.3530 | 1.3571 | 1.3631 | 1.3672 | 1.3732 | 1.3773 |
| Camarilla | 1.3584 | 1.3594 | 1.3603 | 1.3612 | 1.3621 | 1.3631 | 1.3640 |
| Woodie | 1.3461 | 1.3525 | 1.3562 | 1.3626 | 1.3663 | 1.3727 | 1.3764 |
| Fibonacci | 1.3530 | 1.3569 | 1.3592 | 1.3631 | 1.3670 | 1.3693 | 1.3732 |
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): | 52.02 | |
| MACD (12,26,9): | -0.0003 | |
| Directional Movement: | 5.9460 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 1.3608 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3600 | |
| Elder Ray (13): | 0.0003 | |
| Super Trend (3,10): | 1.3629 | |
| Zig ZAG (10): | 1.3615 | |
| VORTEX (21): | 0.8756 | |
| Stochastique (14,3,5): | 54.55 | |
| TEMA (21): | 1.3607 | |
| Williams %R (14): | -36.36 | |
| Chande Momentum Oscillator (20): | 0.0003 | |
| Repulse (5,40,3): | 0.0740 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0038 | |
| Courbe Coppock: | 0.08 |
| MA7: | 1.3633 | |
| MA20: | 1.3673 | |
| MA50: | 1.3634 | |
| MA100: | 1.3551 | |
| MAexp7: | 1.3610 | |
| MAexp20: | 1.3612 | |
| MAexp50: | 1.3618 | |
| MAexp100: | 1.3629 | |
| Price / MA7: | -0.15% | |
| Price / MA20: | -0.45% | |
| Price / MA50: | -0.16% | |
| Price / MA100: | +0.45% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | -0.12% |
Quotes :
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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 17, 2024
-
Trade of the Week: Time to go long USDCAD?
-
USD/CAD Forecast May 8, 2024
-
USD/CAD Forecast May 2, 2024
-
USD/CAD Forecast April 10, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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