USD/CAD - 1H - Technical analysis published on 10/06/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 1.2625 CAD
My targets
1.2558 CAD (-0.0038)
1.2488 CAD (-0.0108)
My analysis
In a bearish trend, the price of USD/CAD tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 1.2625 CAD. A bearish break in the support located at 1.2558 CAD would revive the bearish momentum and fuel the basic trend. Then the price could move towards 1.2488 CAD. Then 1.2388 CAD by extension. It would be safer to wait for a bearish break in the support located at 1.2558 CAD before allowing yourself to re trade short positions (for sale) on USD/CAD. PS: if there is a bullish break in the resistance located at 1.2625 CAD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are opposing the general bearish 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
0
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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 price is 1.2596 CAD. On the day, this instrument gained +0.10% with the lowest point at 1.2582 CAD and the highest point at 1.2614 CAD. The deviation from the price is +0.11% for the low point and -0.14% for the high point.1.2582
1.2614
1.2596
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 (5 years)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/CAD indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently given by short-term moving averages show a possible weakening of the global trend. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2297 | 1.2388 | 1.2558 | 1.2596 | 1.2625 | 1.2667 | 1.2708 |
| Change (%) | -2.37% | -1.65% | -0.30% | - | +0.23% | +0.56% | +0.89% |
| Change | -0.0299 | -0.0208 | -0.0038 | - | +0.0029 | +0.0071 | +0.0112 |
| Level | Minor | Intermediate | Major | - | Major | 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 | 1.2458 | 1.2501 | 1.2543 | 1.2586 | 1.2628 | 1.2671 | 1.2713 |
| Camarilla | 1.2561 | 1.2568 | 1.2576 | 1.2584 | 1.2592 | 1.2600 | 1.2607 |
| Woodie | 1.2457 | 1.2501 | 1.2542 | 1.2586 | 1.2627 | 1.2671 | 1.2712 |
| Fibonacci | 1.2501 | 1.2534 | 1.2554 | 1.2586 | 1.2619 | 1.2639 | 1.2671 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2384 | 1.2488 | 1.2566 | 1.2670 | 1.2748 | 1.2852 | 1.2930 |
| Camarilla | 1.2593 | 1.2610 | 1.2626 | 1.2643 | 1.2660 | 1.2676 | 1.2693 |
| Woodie | 1.2370 | 1.2482 | 1.2552 | 1.2664 | 1.2734 | 1.2846 | 1.2916 |
| Fibonacci | 1.2488 | 1.2558 | 1.2601 | 1.2670 | 1.2740 | 1.2783 | 1.2852 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2084 | 1.2288 | 1.2487 | 1.2691 | 1.2890 | 1.3094 | 1.3293 |
| Camarilla | 1.2574 | 1.2611 | 1.2648 | 1.2685 | 1.2722 | 1.2759 | 1.2796 |
| Woodie | 1.2081 | 1.2287 | 1.2484 | 1.2690 | 1.2887 | 1.3093 | 1.3290 |
| Fibonacci | 1.2288 | 1.2442 | 1.2537 | 1.2691 | 1.2845 | 1.2940 | 1.3094 |
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): | 53.78 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 6.9738 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 1.2588 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2571 | |
| Elder Ray (13): | 0.0009 | |
| Super Trend (3,10): | 1.2618 | |
| Zig ZAG (10): | 1.2594 | |
| VORTEX (21): | 1.0149 | |
| Stochastique (14,3,5): | 80.75 | |
| TEMA (21): | 1.2595 | |
| Williams %R (14): | -34.55 | |
| Chande Momentum Oscillator (20): | 0.0019 | |
| Repulse (5,40,3): | -0.0507 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0042 | |
| Courbe Coppock: | 0.23 |
| MA7: | 1.2647 | |
| MA20: | 1.2683 | |
| MA50: | 1.2626 | |
| MA100: | 1.2474 | |
| MAexp7: | 1.2594 | |
| MAexp20: | 1.2590 | |
| MAexp50: | 1.2603 | |
| MAexp100: | 1.2626 | |
| Price / MA7: | -0.40% | |
| Price / MA20: | -0.69% | |
| Price / MA50: | -0.24% | |
| Price / MA100: | +0.98% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | -0.24% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/CAD at the time of the analysis were as follows:
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USD/CAD Technical Outlook: Chart at Support
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USD/CAD Technical Outlook: Short-term Chart Ready for a Breakout
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Market Sentiment Webinar: Long Positions Jump in USD/CAD
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Dollar, USDCAD and Oil Reversals Defy Trend, Suit Anticipation
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S&P 500 Due a Break Before Week's End, USDCAD Top Event Catalyst
This member declared not having a position on this financial instrument or a related financial instrument.
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