USD/CAD - 1H - Technical analysis published on 07/02/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 1.2388 CAD
My targets
1.2315 CAD (-0.0057)
1.2272 CAD (-0.0100)
My analysis
The strong short-term decline of USD/CAD reinforces the current slightly bearish trend. As long as the price remains below 1.2388 CAD, you could take advantage of this bearish acceleration. The first bearish objective is located at 1.2315 CAD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.2272 CAD as an objective. Crossing it would then enable sellers to target 1.2109 CAD. A return to above 1.2388 CAD would be a sign of a correction of short-term bearish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.2372 CAD. The price is lower by -0.56% since the last closing with the lowest point at 1.2357 CAD and the highest point at 1.2450 CAD. The deviation from the price is +0.12% for the low point and -0.63% for the high point.1.2357
1.2450
1.2372
Here is a more detailed summary of the historical variations registered by USD/CAD:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/CAD in 1H shows an overall slightly bearish trend. 60.71% of the signals given by moving averages are bearish. The overall trend could accelerate as a result of the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA50 & AMA100
Type : Bullish
Timeframe : 1 hour
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:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Resistance of triangle is broken
Type : Bullish
Timeframe : 1 hour
Horizontal support is broken
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 | 1.2272 | 1.2315 | 1.2363 | 1.2372 | 1.2388 | 1.2424 | 1.2446 |
| Change (%) | -0.81% | -0.46% | -0.07% | - | +0.13% | +0.42% | +0.60% |
| Change | -0.0100 | -0.0057 | -0.0009 | - | +0.0016 | +0.0052 | +0.0074 |
| Level | Minor | Intermediate | Minor | - | Minor | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2304 | 1.2334 | 1.2387 | 1.2417 | 1.2470 | 1.2500 | 1.2553 |
| Camarilla | 1.2418 | 1.2426 | 1.2433 | 1.2441 | 1.2449 | 1.2456 | 1.2464 |
| Woodie | 1.2317 | 1.2340 | 1.2400 | 1.2423 | 1.2483 | 1.2506 | 1.2566 |
| Fibonacci | 1.2334 | 1.2365 | 1.2385 | 1.2417 | 1.2448 | 1.2468 | 1.2500 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1967 | 1.2110 | 1.2202 | 1.2345 | 1.2437 | 1.2580 | 1.2672 |
| Camarilla | 1.2230 | 1.2252 | 1.2274 | 1.2295 | 1.2317 | 1.2338 | 1.2360 |
| Woodie | 1.1943 | 1.2097 | 1.2178 | 1.2332 | 1.2413 | 1.2567 | 1.2648 |
| Fibonacci | 1.2110 | 1.2199 | 1.2255 | 1.2345 | 1.2434 | 1.2490 | 1.2580 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1623 | 1.1815 | 1.2104 | 1.2296 | 1.2585 | 1.2777 | 1.3066 |
| Camarilla | 1.2262 | 1.2306 | 1.2350 | 1.2394 | 1.2438 | 1.2482 | 1.2526 |
| Woodie | 1.1673 | 1.1839 | 1.2154 | 1.2320 | 1.2635 | 1.2801 | 1.3116 |
| Fibonacci | 1.1815 | 1.1998 | 1.2112 | 1.2296 | 1.2479 | 1.2593 | 1.2777 |
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): | 27.71 | |
| MACD (12,26,9): | -0.0007 | |
| Directional Movement: | -20.8338 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.2409 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2437 | |
| Elder Ray (13): | -0.0036 | |
| Super Trend (3,10): | 1.2433 | |
| Zig ZAG (10): | 1.2372 | |
| VORTEX (21): | 0.8044 | |
| Stochastique (14,3,5): | 9.94 | |
| TEMA (21): | 1.2396 | |
| Williams %R (14): | -94.44 | |
| Chande Momentum Oscillator (20): | -0.0069 | |
| Repulse (5,40,3): | -0.4457 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0035 | |
| Courbe Coppock: | 0.63 |
| MA7: | 1.2363 | |
| MA20: | 1.2277 | |
| MA50: | 1.2201 | |
| MA100: | 1.2389 | |
| MAexp7: | 1.2393 | |
| MAexp20: | 1.2413 | |
| MAexp50: | 1.2409 | |
| MAexp100: | 1.2391 | |
| Price / MA7: | +0.07% | |
| Price / MA20: | +0.77% | |
| Price / MA50: | +1.40% | |
| Price / MA100: | -0.14% | |
| Price / MAexp7: | -0.18% | |
| Price / MAexp20: | -0.34% | |
| Price / MAexp50: | -0.31% | |
| 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 USD/CAD. At the time of publication of this analysis, the latest news was as follows:
-
S&P 500 Due a Break Before Week's End, USDCAD Top Event Catalyst
-
USD/CAD Daily Forecast - Canadian Dollar Continues To Trade In A Tight Range
-
USD/CAD Daily Forecast - Canadian Dollar Is Flat After BoC Interest Rate Decision
-
Dollar Pressure Builds but USDCAD May be the Only Major That Can Break Wednesday
-
USD/CAD Daily Forecast - Canadian Dollar Lacks Momentum
This member declared not having a position on this financial instrument or a related financial instrument.
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