EUR/CAD - 1H - Technical analysis published on 05/10/2024 (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
22%
56%
22%
My opinion
Bearish under 1.4757 CAD
My targets
1.4676 CAD (-0.0045)
1.4641 CAD (-0.0080)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EUR/CAD as long as the price remains well below 1.4757 CAD. The sellers' bearish objective is set at 1.4676 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.4641 CAD. In case of crossing, the next objective would be the support located at 1.4624 CAD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
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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 EUR/CAD price is 1.4721 CAD. The price registered a decrease of -0.18% on the session and was between 1.4695 CAD and 1.4758 CAD. This implies that the price is at +0.18% from its lowest and at -0.25% from its highest.1.4695
1.4758
1.4721
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/CAD indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
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
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 | 1.4624 | 1.4641 | 1.4676 | 1.4721 | 1.4728 | 1.4757 | 1.4775 |
| Change (%) | -0.66% | -0.54% | -0.31% | - | +0.05% | +0.24% | +0.37% |
| Change | -0.0097 | -0.0080 | -0.0045 | - | +0.0007 | +0.0036 | +0.0054 |
| Level | Major | Minor | Minor | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4684 | 1.4702 | 1.4725 | 1.4743 | 1.4766 | 1.4784 | 1.4807 |
| Camarilla | 1.4736 | 1.4740 | 1.4743 | 1.4747 | 1.4751 | 1.4755 | 1.4758 |
| Woodie | 1.4686 | 1.4703 | 1.4727 | 1.4744 | 1.4768 | 1.4785 | 1.4809 |
| Fibonacci | 1.4702 | 1.4718 | 1.4728 | 1.4743 | 1.4759 | 1.4769 | 1.4784 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4501 | 1.4554 | 1.4641 | 1.4694 | 1.4781 | 1.4834 | 1.4921 |
| Camarilla | 1.4691 | 1.4703 | 1.4716 | 1.4729 | 1.4742 | 1.4755 | 1.4768 |
| Woodie | 1.4519 | 1.4563 | 1.4659 | 1.4703 | 1.4799 | 1.4843 | 1.4939 |
| Fibonacci | 1.4554 | 1.4607 | 1.4640 | 1.4694 | 1.4747 | 1.4780 | 1.4834 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 39.03 | |
| MACD (12,26,9): | -0.0008 | |
| Directional Movement: | -18.0644 | |
| AROON (14): | -21.4285 | |
| DEMA (21): | 1.4727 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4752 | |
| Elder Ray (13): | -0.0016 | |
| Super Trend (3,10): | 1.4748 | |
| Zig ZAG (10): | 1.4719 | |
| VORTEX (21): | 0.8559 | |
| Stochastique (14,3,5): | 29.10 | |
| TEMA (21): | 1.4721 | |
| Williams %R (14): | -60.32 | |
| Chande Momentum Oscillator (20): | -0.0030 | |
| Repulse (5,40,3): | -0.0203 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0034 | |
| Courbe Coppock: | 0.29 |
| MA7: | 1.4728 | |
| MA20: | 1.4681 | |
| MA50: | 1.4695 | |
| MA100: | 1.4650 | |
| MAexp7: | 1.4723 | |
| MAexp20: | 1.4735 | |
| MAexp50: | 1.4742 | |
| MAexp100: | 1.4738 | |
| Price / MA7: | -0.05% | |
| Price / MA20: | +0.27% | |
| Price / MA50: | +0.18% | |
| Price / MA100: | +0.48% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.14% | |
| Price / MAexp100: | -0.12% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on EUR/CAD at the time of the analysis were as follows:
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Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
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Why I'm looking to sell EURCAD: Coleman
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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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