USD/CAD - 1H - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 1.3634 CAD
My targets
1.3525 CAD (-0.0090)
1.3453 CAD (-0.0162)
My analysis
USD/CAD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.3634 CAD. The next support located at 1.3525 CAD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.3453 CAD. Below this support, sellers could then target 1.3197 CAD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7.1
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3615 CAD. The price is lower by -0.29% since the last closing and was traded between 1.3590 CAD and 1.3661 CAD over the period. The price is currently at +0.18% from its lowest and -0.34% from its highest.1.3590
1.3661
1.3615
Here is a more detailed summary of the historical variations registered by USD/CAD:
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
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/CAD indicates that the overall trend is strongly bearish. 92.86% 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 scanner does not detect any result on moving averages that would impact this trend.
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 4 are neutral and 10 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
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 resistance of channel
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
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 | 1.3453 | 1.3525 | 1.3609 | 1.3615 | 1.3634 | 1.3648 | 1.3686 |
| Change (%) | -1.19% | -0.66% | -0.04% | - | +0.14% | +0.24% | +0.52% |
| Change | -0.0162 | -0.0090 | -0.0006 | - | +0.0019 | +0.0033 | +0.0071 |
| Level | Intermediate | Minor | Minor | - | Major | Minor | Major |
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 | 1.3570 | 1.3601 | 1.3628 | 1.3659 | 1.3686 | 1.3717 | 1.3744 |
| Camarilla | 1.3638 | 1.3643 | 1.3649 | 1.3654 | 1.3659 | 1.3665 | 1.3670 |
| Woodie | 1.3567 | 1.3600 | 1.3625 | 1.3658 | 1.3683 | 1.3716 | 1.3741 |
| Fibonacci | 1.3601 | 1.3624 | 1.3637 | 1.3659 | 1.3682 | 1.3695 | 1.3717 |
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): | 35.61 | |
| MACD (12,26,9): | -0.0009 | |
| Directional Movement: | -24.7222 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 1.3627 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3591 | |
| Elder Ray (13): | -0.0020 | |
| Super Trend (3,10): | 1.3597 | |
| Zig ZAG (10): | 1.3612 | |
| VORTEX (21): | 0.7903 | |
| Stochastique (14,3,5): | 61.37 | |
| TEMA (21): | 1.3625 | |
| Williams %R (14): | -69.01 | |
| Chande Momentum Oscillator (20): | -0.0027 | |
| Repulse (5,40,3): | -0.1147 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0084 | |
| Courbe Coppock: | 0.28 |
| MA7: | 1.3678 | |
| MA20: | 1.3693 | |
| MA50: | 1.3626 | |
| MA100: | 1.3540 | |
| MAexp7: | 1.3629 | |
| MAexp20: | 1.3638 | |
| MAexp50: | 1.3652 | |
| MAexp100: | 1.3666 | |
| Price / MA7: | -0.46% | |
| Price / MA20: | -0.57% | |
| Price / MA50: | -0.08% | |
| Price / MA100: | +0.55% | |
| Price / MAexp7: | -0.10% | |
| Price / MAexp20: | -0.17% | |
| Price / MAexp50: | -0.27% | |
| Price / MAexp100: | -0.37% |
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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Trade of the Week: Time to go long USDCAD?
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USD/CAD Forecast May 8, 2024
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USD/CAD Forecast May 2, 2024
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USD/CAD Forecast April 10, 2024
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Technical Analysis: 05/03/2024 - USDCAD ticks higher within ascending channel
This member declared not having a position on this financial instrument or a related financial instrument.
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