USD/CAD - 1H - Technical analysis published on 09/02/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
78%
11%
My opinion
Bearish under 1.2578 CAD
My targets
1.2518 CAD (-0.0042)
1.2450 CAD (-0.0110)
My analysis
USD/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 1.2578 CAD. The next support located at 1.2518 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 1.2450 CAD. Below this support, sellers could then target 1.2297 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.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
8
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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
USD/CAD rating 1.2560 CAD. On the day, this instrument lost -0.48% with the lowest point at 1.2551 CAD and the highest point at 1.2638 CAD. The deviation from the price is +0.07% for the low point and -0.62% for the high point.1.2551
1.2638
1.2560
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/CAD in 1H shows a overall strongly bearish trend. 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. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 1 hour
Moving Average bullish crossovers : MA50 & MA100
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
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
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Long black line
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2297 | 1.2450 | 1.2558 | 1.2560 | 1.2578 | 1.2606 | 1.2626 |
| Change (%) | -2.09% | -0.88% | -0.02% | - | +0.14% | +0.37% | +0.53% |
| Change | -0.0263 | -0.0110 | -0.0002 | - | +0.0018 | +0.0046 | +0.0066 |
| Level | Minor | Intermediate | Minor | - | Intermediate | 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 | 1.2530 | 1.2554 | 1.2588 | 1.2612 | 1.2646 | 1.2670 | 1.2704 |
| Camarilla | 1.2605 | 1.2610 | 1.2616 | 1.2621 | 1.2626 | 1.2632 | 1.2637 |
| Woodie | 1.2534 | 1.2557 | 1.2592 | 1.2615 | 1.2650 | 1.2673 | 1.2708 |
| Fibonacci | 1.2554 | 1.2577 | 1.2590 | 1.2612 | 1.2635 | 1.2648 | 1.2670 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2257 | 1.2417 | 1.2518 | 1.2678 | 1.2779 | 1.2939 | 1.3040 |
| Camarilla | 1.2546 | 1.2570 | 1.2594 | 1.2618 | 1.2642 | 1.2666 | 1.2690 |
| Woodie | 1.2227 | 1.2402 | 1.2488 | 1.2663 | 1.2749 | 1.2924 | 1.3010 |
| Fibonacci | 1.2417 | 1.2517 | 1.2579 | 1.2678 | 1.2778 | 1.2840 | 1.2939 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1899 | 1.2176 | 1.2396 | 1.2673 | 1.2893 | 1.3170 | 1.3390 |
| Camarilla | 1.2480 | 1.2526 | 1.2571 | 1.2617 | 1.2663 | 1.2708 | 1.2754 |
| Woodie | 1.1872 | 1.2162 | 1.2369 | 1.2659 | 1.2866 | 1.3156 | 1.3363 |
| Fibonacci | 1.2176 | 1.2366 | 1.2483 | 1.2673 | 1.2863 | 1.2980 | 1.3170 |
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): | 25.66 | |
| MACD (12,26,9): | -0.0009 | |
| Directional Movement: | -18.8364 | |
| AROON (14): | -100.0000 | |
| DEMA (21): | 1.2591 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2621 | |
| Elder Ray (13): | -0.0035 | |
| Super Trend (3,10): | 1.2614 | |
| Zig ZAG (10): | 1.2556 | |
| VORTEX (21): | 0.8233 | |
| Stochastique (14,3,5): | 13.49 | |
| TEMA (21): | 1.2582 | |
| Williams %R (14): | -94.19 | |
| Chande Momentum Oscillator (20): | -0.0071 | |
| Repulse (5,40,3): | -0.3627 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0034 | |
| Courbe Coppock: | 0.58 |
| MA7: | 1.2614 | |
| MA20: | 1.2613 | |
| MA50: | 1.2544 | |
| MA100: | 1.2382 | |
| MAexp7: | 1.2586 | |
| MAexp20: | 1.2600 | |
| MAexp50: | 1.2607 | |
| MAexp100: | 1.2616 | |
| Price / MA7: | -0.43% | |
| Price / MA20: | -0.42% | |
| Price / MA50: | +0.13% | |
| Price / MA100: | +1.44% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.31% | |
| Price / MAexp50: | -0.36% | |
| Price / MAexp100: | -0.44% |
Quotes :
-
Real time data
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Forex
News
The last news published on USD/CAD at the time of the generation of this analysis was as follows:
-
Market Sentiment Webinar: Long Positions Jump in USD/CAD
-
Dollar, USDCAD and Oil Reversals Defy Trend, Suit Anticipation
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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