EUR/CAD - 1H - Technical analysis published on 05/01/2024 (GMT)
- 65
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
39%
17%
44%
My opinion
Bullish above 1.4636 CAD
My targets
1.4729 CAD (+0.0039)
1.4758 CAD (+0.0068)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/CAD. As long as you are above the support located at 1.4636 CAD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.4729 CAD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1.4758 CAD as an objective. Crossing it would then enable buyers to target 1.4908 CAD. If the support 1.4636 CAD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
3.2
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/CAD rating is 1.4690 CAD. The price registered a decrease of -0.03% on the session and was traded between 1.4676 CAD and 1.4713 CAD over the period. The price is currently at +0.10% from its lowest and -0.16% from its highest.1.4676
1.4713
1.4690
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/CAD in 1H shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
The probability of a further increase is slight given the direction of the technical indicators.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
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 horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.4606 | 1.4624 | 1.4636 | 1.4690 | 1.4691 | 1.4729 | 1.4758 |
| Change (%) | -0.57% | -0.45% | -0.37% | - | +0.01% | +0.27% | +0.46% |
| Change | -0.0084 | -0.0066 | -0.0054 | - | +0.0001 | +0.0039 | +0.0068 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4551 | 1.4594 | 1.4644 | 1.4687 | 1.4737 | 1.4780 | 1.4830 |
| Camarilla | 1.4669 | 1.4678 | 1.4687 | 1.4695 | 1.4704 | 1.4712 | 1.4721 |
| Woodie | 1.4556 | 1.4596 | 1.4649 | 1.4689 | 1.4742 | 1.4782 | 1.4835 |
| Fibonacci | 1.4594 | 1.4629 | 1.4651 | 1.4687 | 1.4722 | 1.4744 | 1.4780 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4458 | 1.4519 | 1.4569 | 1.4630 | 1.4680 | 1.4741 | 1.4791 |
| Camarilla | 1.4589 | 1.4599 | 1.4609 | 1.4619 | 1.4629 | 1.4639 | 1.4650 |
| Woodie | 1.4453 | 1.4516 | 1.4564 | 1.4627 | 1.4675 | 1.4738 | 1.4786 |
| Fibonacci | 1.4519 | 1.4561 | 1.4588 | 1.4630 | 1.4672 | 1.4699 | 1.4741 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4355 | 1.4450 | 1.4573 | 1.4668 | 1.4791 | 1.4886 | 1.5009 |
| Camarilla | 1.4635 | 1.4655 | 1.4675 | 1.4695 | 1.4715 | 1.4735 | 1.4755 |
| Woodie | 1.4368 | 1.4457 | 1.4586 | 1.4675 | 1.4804 | 1.4893 | 1.5022 |
| Fibonacci | 1.4450 | 1.4534 | 1.4585 | 1.4668 | 1.4752 | 1.4803 | 1.4886 |
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): | 50.73 | |
| MACD (12,26,9): | 0.0006 | |
| Directional Movement: | 8.3890 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 1.4699 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4680 | |
| Elder Ray (13): | -0.0002 | |
| Super Trend (3,10): | 1.4670 | |
| Zig ZAG (10): | 1.4689 | |
| VORTEX (21): | 1.0049 | |
| Stochastique (14,3,5): | 56.76 | |
| TEMA (21): | 1.4697 | |
| Williams %R (14): | -62.16 | |
| Chande Momentum Oscillator (20): | 0.0007 | |
| Repulse (5,40,3): | -0.0841 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0060 | |
| Courbe Coppock: | 0.10 |
| MA7: | 1.4655 | |
| MA20: | 1.4672 | |
| MA50: | 1.4684 | |
| MA100: | 1.4645 | |
| MAexp7: | 1.4695 | |
| MAexp20: | 1.4691 | |
| MAexp50: | 1.4678 | |
| MAexp100: | 1.4665 | |
| Price / MA7: | +0.24% | |
| Price / MA20: | +0.12% | |
| Price / MA50: | +0.04% | |
| Price / MA100: | +0.31% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | +0.08% | |
| Price / MAexp100: | +0.17% |
Quotes :
-
Real time data
-
Forex
News
The latest news and videos published on EUR/CAD at the time of the analysis were 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.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis EUR/CAD - 1H