USD/CAD - 1H - Technical analysis published on 05/08/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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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:
Bearish
Underlying:
Strongly bearish
Technical indicators
56%
28%
17%
My opinion
Bearish under 1.3462 CAD
My targets
1.3279 CAD (-0.0082)
1.3193 CAD (-0.0168)
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 1.3462 CAD. The next bearish objective for sellers 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 1.3193 CAD. If there is any crossing, the next objective would be the support located at 1.2986 CAD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
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 koenakubheka. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3361 CAD. The price is lower by -0.11% since the last closing and was traded between 1.3315 CAD and 1.3392 CAD over the period. The price is currently at +0.35% from its lowest and -0.23% from its highest.1.3315
1.3392
1.3361
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 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 1H of this USD/CAD chart shows a sharp bearish trend. The signals given by moving averages are 85.71% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 10 are bullish, 3 are neutral and 5 are bearish. The Central Indicators scanner found no further results concerning independent technical indicators.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2764 | 1.2986 | 1.3279 | 1.3361 | 1.3490 | 1.3529 | 1.3551 |
| Change (%) | -4.47% | -2.81% | -0.61% | - | +0.97% | +1.26% | +1.42% |
| Change | -0.0597 | -0.0375 | -0.0082 | - | +0.0129 | +0.0168 | +0.0190 |
| Level | Minor | Major | Major | - | Minor | Major | Minor |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 40.47 | |
| MACD (12,26,9): | -0.0022 | |
| Directional Movement: | -14.0417 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 1.3331 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3319 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 1.3369 | |
| Zig ZAG (10): | 1.3361 | |
| VORTEX (21): | 0.9004 | |
| Stochastique (14,3,5): | 71.32 | |
| TEMA (21): | 1.3342 | |
| Williams %R (14): | -23.33 | |
| Chande Momentum Oscillator (20): | -0.0011 | |
| Repulse (5,40,3): | 0.0935 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0317 | |
| Courbe Coppock: | 0.39 |
| MA7: | 1.3517 | |
| MA20: | 1.3494 | |
| MA50: | 1.3581 | |
| MA100: | 1.3520 | |
| MAexp7: | 1.3353 | |
| MAexp20: | 1.3365 | |
| MAexp50: | 1.3421 | |
| MAexp100: | 1.3478 | |
| Price / MA7: | -1.15% | |
| Price / MA20: | -0.99% | |
| Price / MA50: | -1.62% | |
| Price / MA100: | -1.18% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | -0.45% | |
| Price / MAexp100: | -0.87% |
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:
-
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
-
Technical Analysis: 12/04/2023 - USDCAD posts bearish cross within SMAs
-
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.
About author
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