USD/CAD - 1H - Technical analysis published on 05/13/2024 (GMT)
- 63
- 0
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
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
6%
50%
My opinion
Bearish under 1.3715 CAD
My targets
1.3648 CAD (-0.0032)
1.3634 CAD (-0.0046)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on USD/CAD. As long as you are under the resistance located at 1.3715 CAD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 1.3648 CAD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 1.3634 CAD as an objective. Crossing it would then enable sellers to target 1.3609 CAD. If the resistance 1.3715 CAD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
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
0.9
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Additional analysis
Quotes
USD/CAD rating 1.3680 CAD. The price registered an increase of +0.06% on the session and was traded between 1.3658 CAD and 1.3690 CAD over the period. The price is currently at +0.16% from its lowest and -0.07% from its highest.1.3658
1.3690
1.3680
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 an overall bearish trend. 64.29% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
The probability of a further increase is slight given the direction of the technical indicators.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3634 | 1.3648 | 1.3669 | 1.3680 | 1.3683 | 1.3715 | 1.3738 |
| Change (%) | -0.34% | -0.23% | -0.08% | - | +0.02% | +0.26% | +0.42% |
| Change | -0.0046 | -0.0032 | -0.0011 | - | +0.0003 | +0.0035 | +0.0058 |
| Level | Intermediate | Intermediate | Minor | - | 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 | 1.3583 | 1.3609 | 1.3640 | 1.3666 | 1.3697 | 1.3723 | 1.3754 |
| Camarilla | 1.3656 | 1.3662 | 1.3667 | 1.3672 | 1.3677 | 1.3683 | 1.3688 |
| Woodie | 1.3587 | 1.3610 | 1.3644 | 1.3667 | 1.3701 | 1.3724 | 1.3758 |
| Fibonacci | 1.3609 | 1.3630 | 1.3644 | 1.3666 | 1.3687 | 1.3701 | 1.3723 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3487 | 1.3561 | 1.3616 | 1.3690 | 1.3745 | 1.3819 | 1.3874 |
| Camarilla | 1.3637 | 1.3648 | 1.3660 | 1.3672 | 1.3684 | 1.3696 | 1.3708 |
| Woodie | 1.3479 | 1.3556 | 1.3608 | 1.3685 | 1.3737 | 1.3814 | 1.3866 |
| Fibonacci | 1.3561 | 1.3610 | 1.3640 | 1.3690 | 1.3739 | 1.3769 | 1.3819 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3187 | 1.3333 | 1.3555 | 1.3701 | 1.3923 | 1.4069 | 1.4291 |
| Camarilla | 1.3677 | 1.3711 | 1.3744 | 1.3778 | 1.3812 | 1.3846 | 1.3879 |
| Woodie | 1.3226 | 1.3352 | 1.3594 | 1.3720 | 1.3962 | 1.4088 | 1.4330 |
| Fibonacci | 1.3333 | 1.3473 | 1.3560 | 1.3701 | 1.3841 | 1.3928 | 1.4069 |
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): | 51.60 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | -0.4297 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 1.3676 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3643 | |
| Elder Ray (13): | 0.0003 | |
| Super Trend (3,10): | 1.3656 | |
| Zig ZAG (10): | 1.3681 | |
| VORTEX (21): | 0.9873 | |
| Stochastique (14,3,5): | 73.96 | |
| TEMA (21): | 1.3682 | |
| Williams %R (14): | -31.25 | |
| Chande Momentum Oscillator (20): | 0.0008 | |
| Repulse (5,40,3): | -0.0133 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0028 | |
| Courbe Coppock: | 0.22 |
| MA7: | 1.3693 | |
| MA20: | 1.3710 | |
| MA50: | 1.3623 | |
| MA100: | 1.3532 | |
| MAexp7: | 1.3681 | |
| MAexp20: | 1.3678 | |
| MAexp50: | 1.3686 | |
| MAexp100: | 1.3693 | |
| Price / MA7: | -0.09% | |
| Price / MA20: | -0.22% | |
| Price / MA50: | +0.42% | |
| Price / MA100: | +1.09% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | -0.09% |
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:
-
USD/CAD Forecast May 8, 2024
-
USD/CAD Forecast May 2, 2024
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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