EUR/CAD - 1H - Technical analysis published on 04/11/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 1.4711 CAD
My targets
1.4624 CAD (-0.0059)
1.4570 CAD (-0.0113)
My analysis
EUR/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 1.4711 CAD. The next support located at 1.4624 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 1.4570 CAD. Below this support, sellers could then target 1.4546 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
6.6
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/CAD rating 1.4683 CAD. The price is lower by -0.13% since the last closing with the lowest point at 1.4668 CAD and the highest point at 1.4708 CAD. The deviation from the price is +0.10% for the low point and -0.17% for the high point.1.4668
1.4708
1.4683
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
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 EUR/CAD indicates that the overall trend is strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 4 are neutral and 9 are bearish. The Central Indicators scanner found this result concerning these indicators:
Williams %R indicator is back under -50
Type : Bearish
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 resistance of channel
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
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 | 1.4570 | 1.4624 | 1.4670 | 1.4683 | 1.4711 | 1.4741 | 1.4758 |
| Change (%) | -0.77% | -0.40% | -0.09% | - | +0.19% | +0.40% | +0.51% |
| Change | -0.0113 | -0.0059 | -0.0013 | - | +0.0028 | +0.0058 | +0.0075 |
| Level | Minor | Major | Major | - | Minor | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4596 | 1.4633 | 1.4667 | 1.4704 | 1.4738 | 1.4775 | 1.4809 |
| Camarilla | 1.4683 | 1.4689 | 1.4696 | 1.4702 | 1.4709 | 1.4715 | 1.4722 |
| Woodie | 1.4596 | 1.4632 | 1.4667 | 1.4703 | 1.4738 | 1.4774 | 1.4809 |
| Fibonacci | 1.4633 | 1.4660 | 1.4677 | 1.4704 | 1.4731 | 1.4748 | 1.4775 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4405 | 1.4475 | 1.4602 | 1.4672 | 1.4799 | 1.4869 | 1.4996 |
| Camarilla | 1.4674 | 1.4692 | 1.4710 | 1.4728 | 1.4746 | 1.4764 | 1.4782 |
| Woodie | 1.4433 | 1.4489 | 1.4630 | 1.4686 | 1.4827 | 1.4883 | 1.5024 |
| Fibonacci | 1.4475 | 1.4551 | 1.4597 | 1.4672 | 1.4748 | 1.4794 | 1.4869 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4345 | 1.4465 | 1.4540 | 1.4660 | 1.4735 | 1.4855 | 1.4930 |
| Camarilla | 1.4561 | 1.4579 | 1.4597 | 1.4615 | 1.4633 | 1.4651 | 1.4669 |
| Woodie | 1.4323 | 1.4454 | 1.4518 | 1.4649 | 1.4713 | 1.4844 | 1.4908 |
| Fibonacci | 1.4465 | 1.4540 | 1.4586 | 1.4660 | 1.4735 | 1.4781 | 1.4855 |
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): | 39.74 | |
| MACD (12,26,9): | -0.0007 | |
| Directional Movement: | -9.6608 | |
| AROON (14): | -85.7143 | |
| DEMA (21): | 1.4686 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4668 | |
| Elder Ray (13): | 0.0001 | |
| Super Trend (3,10): | 1.4715 | |
| Zig ZAG (10): | 1.4683 | |
| VORTEX (21): | 0.9342 | |
| Stochastique (14,3,5): | 51.99 | |
| TEMA (21): | 1.4686 | |
| Williams %R (14): | -61.54 | |
| Chande Momentum Oscillator (20): | -0.0017 | |
| Repulse (5,40,3): | -0.0530 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0072 | |
| Courbe Coppock: | 0.15 |
| MA7: | 1.4704 | |
| MA20: | 1.4690 | |
| MA50: | 1.4650 | |
| MA100: | 1.4661 | |
| MAexp7: | 1.4690 | |
| MAexp20: | 1.4696 | |
| MAexp50: | 1.4707 | |
| MAexp100: | 1.4707 | |
| Price / MA7: | -0.14% | |
| Price / MA20: | -0.05% | |
| Price / MA50: | +0.23% | |
| Price / MA100: | +0.15% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.09% | |
| Price / MAexp50: | -0.16% | |
| Price / MAexp100: | -0.16% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on EUR/CAD. At the time of publication of this analysis, the latest news was as follows:
-
Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
-
Why I'm looking to sell EURCAD: Coleman
-
EUR/CAD To Hold Steady
-
EUR/CAD Bullish Breakthrough
-
Bullish Divergence – EURCAD
This member declared not having a position on this financial instrument or a related financial instrument.
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