USD/CAD - 1H - Technical analysis published on 04/28/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
22%
39%
39%
My opinion
Bearish under 1.3689 CAD
My targets
1.3634 CAD (-0.0027)
1.3594 CAD (-0.0067)
My analysis
The bearish basic trend is very strong on USD/CAD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 1.3689 CAD. Crossing the first support at 1.3634 CAD would be a sign of a further potential price plummet. Sellers would then use the next support located at 1.3594 CAD as an objective. Crossing it would then enable sellers to target 1.3524 CAD. Caution, a return to above the resistance located at 1.3689 CAD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5.9
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Additional analysis
Quotes
The USD/CAD rating is 1.3661 CAD. The price is lower by -0.07% since the last closing with the lowest point at 1.3660 CAD and the highest point at 1.3681 CAD. The deviation from the price is +0.01% for the low point and -0.15% for the high point.1.3660
1.3681
1.3661
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of USD/CAD in 1H shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 1.3594 | 1.3634 | 1.3655 | 1.3661 | 1.3689 | 1.3745 | 1.3819 |
| Change (%) | -0.49% | -0.20% | -0.04% | - | +0.20% | +0.61% | +1.16% |
| Change | -0.0067 | -0.0027 | -0.0006 | - | +0.0028 | +0.0084 | +0.0158 |
| Level | Minor | Minor | Intermediate | - | Major | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3575 | 1.3605 | 1.3637 | 1.3667 | 1.3699 | 1.3729 | 1.3761 |
| Camarilla | 1.3653 | 1.3659 | 1.3664 | 1.3670 | 1.3676 | 1.3681 | 1.3687 |
| Woodie | 1.3577 | 1.3606 | 1.3639 | 1.3668 | 1.3701 | 1.3730 | 1.3763 |
| Fibonacci | 1.3605 | 1.3628 | 1.3643 | 1.3667 | 1.3690 | 1.3705 | 1.3729 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3495 | 1.3565 | 1.3617 | 1.3687 | 1.3739 | 1.3809 | 1.3861 |
| Camarilla | 1.3637 | 1.3648 | 1.3659 | 1.3670 | 1.3681 | 1.3692 | 1.3704 |
| Woodie | 1.3487 | 1.3561 | 1.3609 | 1.3683 | 1.3731 | 1.3805 | 1.3853 |
| Fibonacci | 1.3565 | 1.3611 | 1.3640 | 1.3687 | 1.3733 | 1.3762 | 1.3809 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3238 | 1.3329 | 1.3432 | 1.3523 | 1.3626 | 1.3717 | 1.3820 |
| Camarilla | 1.3482 | 1.3499 | 1.3517 | 1.3535 | 1.3553 | 1.3571 | 1.3588 |
| Woodie | 1.3244 | 1.3332 | 1.3438 | 1.3526 | 1.3632 | 1.3720 | 1.3826 |
| Fibonacci | 1.3329 | 1.3403 | 1.3449 | 1.3523 | 1.3597 | 1.3643 | 1.3717 |
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): | 47.16 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | -7.0192 | |
| AROON (14): | 21.4286 | |
| DEMA (21): | 1.3664 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3692 | |
| Elder Ray (13): | -0.0004 | |
| Super Trend (3,10): | 1.3640 | |
| Zig ZAG (10): | 1.3661 | |
| VORTEX (21): | 1.0185 | |
| Stochastique (14,3,5): | 48.39 | |
| TEMA (21): | 1.3668 | |
| Williams %R (14): | -56.45 | |
| Chande Momentum Oscillator (20): | 0.0009 | |
| Repulse (5,40,3): | -0.0705 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0011 | |
| Courbe Coppock: | 0.22 |
| MA7: | 1.3687 | |
| MA20: | 1.3673 | |
| MA50: | 1.3589 | |
| MA100: | 1.3506 | |
| MAexp7: | 1.3666 | |
| MAexp20: | 1.3665 | |
| MAexp50: | 1.3671 | |
| MAexp100: | 1.3685 | |
| Price / MA7: | -0.19% | |
| Price / MA20: | -0.09% | |
| Price / MA50: | +0.53% | |
| Price / MA100: | +1.15% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | -0.07% | |
| Price / MAexp100: | -0.18% |
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:
-
USD/CAD Forecast April 10, 2024
-
Technical Analysis: 05/03/2024 - USDCAD ticks higher within ascending channel
-
Technical Analysis: 29/03/2024 - USDCAD pauses four-day slide
-
Technical Analysis: 22/03/2024 - Is there stronger bullish trend for USDCAD?
-
USD/CAD Forecast March 20, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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