USD/CAD - Daily - Technical analysis published on 05/08/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1.3551 CAD
My targets
1.3279 CAD (-0.0057)
1.2986 CAD (-0.0350)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on USD/CAD as long as the price remains well below 1.3551 CAD. The sellers' bearish objective is set at 1.3279 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2986 CAD. In case of crossing, the next objective would be the support located at 1.2764 CAD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
6.4
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Ahmadjdid. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3336 CAD. On the day, this instrument lost -0.29% and was traded between 1.3332 CAD and 1.3392 CAD over the period. The price is currently at +0.03% from its lowest and -0.42% from its highest.1.3332
1.3392
1.3336
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by USD/CAD:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this USD/CAD chart shows a sharp bearish trend. 82.14% 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 is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : Daily
An assessment of technical indicators shows a bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
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 | 1.2764 | 1.2986 | 1.3279 | 1.3336 | 1.3551 | 1.3752 | 1.4567 |
| Change (%) | -4.29% | -2.62% | -0.43% | - | +1.61% | +3.12% | +9.23% |
| Change | -0.0572 | -0.0350 | -0.0057 | - | +0.0215 | +0.0416 | +0.1231 |
| Level | Minor | Major | Major | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3162 | 1.3266 | 1.3321 | 1.3425 | 1.3480 | 1.3584 | 1.3639 |
| Camarilla | 1.3331 | 1.3346 | 1.3360 | 1.3375 | 1.3390 | 1.3404 | 1.3419 |
| Woodie | 1.3137 | 1.3254 | 1.3296 | 1.3413 | 1.3455 | 1.3572 | 1.3614 |
| Fibonacci | 1.3266 | 1.3327 | 1.3365 | 1.3425 | 1.3486 | 1.3524 | 1.3584 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3015 | 1.3193 | 1.3284 | 1.3462 | 1.3553 | 1.3731 | 1.3822 |
| Camarilla | 1.3301 | 1.3326 | 1.3350 | 1.3375 | 1.3400 | 1.3424 | 1.3449 |
| Woodie | 1.2972 | 1.3171 | 1.3241 | 1.3440 | 1.3510 | 1.3709 | 1.3779 |
| Fibonacci | 1.3193 | 1.3296 | 1.3359 | 1.3462 | 1.3565 | 1.3628 | 1.3731 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2979 | 1.3140 | 1.3346 | 1.3507 | 1.3713 | 1.3874 | 1.4080 |
| Camarilla | 1.3451 | 1.3485 | 1.3518 | 1.3552 | 1.3586 | 1.3619 | 1.3653 |
| Woodie | 1.3002 | 1.3151 | 1.3369 | 1.3518 | 1.3736 | 1.3885 | 1.4103 |
| Fibonacci | 1.3140 | 1.3280 | 1.3367 | 1.3507 | 1.3647 | 1.3734 | 1.3874 |
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): | 35.41 | |
| MACD (12,26,9): | -0.0018 | |
| Directional Movement: | -14.6106 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 1.3490 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3653 | |
| Elder Ray (13): | -0.0140 | |
| Super Trend (3,10): | 1.3620 | |
| Zig ZAG (10): | 1.3340 | |
| VORTEX (21): | 0.9096 | |
| Stochastique (14,3,5): | 20.73 | |
| TEMA (21): | 1.3482 | |
| Williams %R (14): | -98.51 | |
| Chande Momentum Oscillator (20): | -0.0144 | |
| Repulse (5,40,3): | -1.7913 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0081 | |
| Courbe Coppock: | 1.12 |
| MA7: | 1.3513 | |
| MA20: | 1.3493 | |
| MA50: | 1.3581 | |
| MA100: | 1.3519 | |
| MAexp7: | 1.3476 | |
| MAexp20: | 1.3512 | |
| MAexp50: | 1.3529 | |
| MAexp100: | 1.3507 | |
| Price / MA7: | -1.31% | |
| Price / MA20: | -1.16% | |
| Price / MA50: | -1.80% | |
| Price / MA100: | -1.35% | |
| Price / MAexp7: | -1.04% | |
| Price / MAexp20: | -1.30% | |
| Price / MAexp50: | -1.43% | |
| Price / MAexp100: | -1.27% |
Quotes :
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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:
-
Technical Analysis: 28/04/2023 - USDCAD brings weekly resistance back into play
-
Technical Analysis: 21/04/2023 - USDCAD rebounds strongly from April lows
-
Trading the Trend: Long USD/CAD
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Technical Analysis: 12/04/2023 - USDCAD posts bearish cross within SMAs
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Technical Analysis: 06/04/2023 - USDCAD recoups some losses after decline halts
This member declared not having a position on this financial instrument or a related financial instrument.
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