EUR/CAD - 1H - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
11%
44%
44%
My opinion
Bullish above 1.4740 CAD
My targets
1.4787 CAD (+0.0027)
1.4908 CAD (+0.0148)
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 1.4740 CAD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.4787 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 1.4908 CAD as an objective. Crossing it would then enable buyers to target 1.5074 CAD. If the support 1.4740 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.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
2.1
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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 1.4760 CAD. The price is lower by -0.03% since the last closing and was between 1.4760 CAD and 1.4772 CAD. This implies that the price is at 0% from its lowest and at -0.08% from its highest.1.4760
1.4772
1.4760
Here is a more detailed summary of the historical variations registered by EUR/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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/CAD in 1H shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. 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
The probability of a further decline is low given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.4711 | 1.4740 | 1.4757 | 1.4760 | 1.4774 | 1.4787 | 1.4908 |
| Change (%) | -0.33% | -0.14% | -0.02% | - | +0.09% | +0.18% | +1.00% |
| Change | -0.0049 | -0.0020 | -0.0003 | - | +0.0014 | +0.0027 | +0.0148 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Minor |
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 | 1.4699 | 1.4720 | 1.4742 | 1.4763 | 1.4785 | 1.4806 | 1.4828 |
| Camarilla | 1.4753 | 1.4757 | 1.4761 | 1.4765 | 1.4769 | 1.4773 | 1.4777 |
| Woodie | 1.4701 | 1.4720 | 1.4744 | 1.4763 | 1.4787 | 1.4806 | 1.4830 |
| Fibonacci | 1.4720 | 1.4736 | 1.4746 | 1.4763 | 1.4779 | 1.4789 | 1.4806 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4594 | 1.4644 | 1.4686 | 1.4736 | 1.4778 | 1.4828 | 1.4870 |
| Camarilla | 1.4702 | 1.4710 | 1.4719 | 1.4727 | 1.4735 | 1.4744 | 1.4752 |
| Woodie | 1.4589 | 1.4642 | 1.4681 | 1.4734 | 1.4773 | 1.4826 | 1.4865 |
| Fibonacci | 1.4644 | 1.4680 | 1.4701 | 1.4736 | 1.4772 | 1.4793 | 1.4828 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.88 | |
| MACD (12,26,9): | 0.0003 | |
| Directional Movement: | 4.0705 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.4769 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4780 | |
| Elder Ray (13): | 0.0001 | |
| Super Trend (3,10): | 1.4746 | |
| Zig ZAG (10): | 1.4762 | |
| VORTEX (21): | 1.0415 | |
| Stochastique (14,3,5): | 29.54 | |
| TEMA (21): | 1.4768 | |
| Williams %R (14): | -90.48 | |
| Chande Momentum Oscillator (20): | -0.0006 | |
| Repulse (5,40,3): | -0.0285 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0038 | |
| Courbe Coppock: | 0.01 |
| MA7: | 1.4752 | |
| MA20: | 1.4695 | |
| MA50: | 1.4696 | |
| MA100: | 1.4655 | |
| MAexp7: | 1.4766 | |
| MAexp20: | 1.4765 | |
| MAexp50: | 1.4758 | |
| MAexp100: | 1.4751 | |
| Price / MA7: | +0.05% | |
| Price / MA20: | +0.44% | |
| Price / MA50: | +0.44% | |
| Price / MA100: | +0.72% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | +0.01% | |
| Price / MAexp100: | +0.06% |
Quotes :
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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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