USD/CAD - 1H - Technical analysis published on 10/22/2024 (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:
Neutral
Underlying:
Bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 1.3785 CAD
My targets
1.3850 CAD (+0.0019)
1.3873 CAD (+0.0042)
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 above the support located at 1.3785 CAD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.3850 CAD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1.3873 CAD as an objective. Crossing it would then enable buyers to target 1.4534 CAD. If the support 1.3785 CAD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bullish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
2.9
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This analysis was given by shadybhai. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3831 CAD. On the day, this instrument lost -0.02% and was traded between 1.3821 CAD and 1.3838 CAD over the period. The price is currently at +0.07% from its lowest and -0.05% from its highest.1.3821
1.3838
1.3831
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/CAD chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, only 7 technical indicators out of 18 analysed are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
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 horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
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 | 1.3747 | 1.3785 | 1.3819 | 1.3831 | 1.3839 | 1.3850 | 1.3873 |
| Change (%) | -0.61% | -0.33% | -0.09% | - | +0.06% | +0.14% | +0.30% |
| Change | -0.0084 | -0.0046 | -0.0012 | - | +0.0008 | +0.0019 | +0.0042 |
| Level | Intermediate | Major | Minor | - | Minor | Intermediate | 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 | 1.3751 | 1.3774 | 1.3804 | 1.3827 | 1.3857 | 1.3880 | 1.3910 |
| Camarilla | 1.3819 | 1.3824 | 1.3829 | 1.3834 | 1.3839 | 1.3844 | 1.3849 |
| Woodie | 1.3755 | 1.3776 | 1.3808 | 1.3829 | 1.3861 | 1.3882 | 1.3914 |
| Fibonacci | 1.3774 | 1.3794 | 1.3807 | 1.3827 | 1.3847 | 1.3860 | 1.3880 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3658 | 1.3702 | 1.3750 | 1.3794 | 1.3842 | 1.3886 | 1.3934 |
| Camarilla | 1.3772 | 1.3780 | 1.3789 | 1.3797 | 1.3805 | 1.3814 | 1.3822 |
| Woodie | 1.3659 | 1.3703 | 1.3751 | 1.3795 | 1.3843 | 1.3887 | 1.3935 |
| Fibonacci | 1.3702 | 1.3738 | 1.3759 | 1.3794 | 1.3830 | 1.3851 | 1.3886 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3185 | 1.3302 | 1.3414 | 1.3531 | 1.3643 | 1.3760 | 1.3872 |
| Camarilla | 1.3463 | 1.3484 | 1.3505 | 1.3526 | 1.3547 | 1.3568 | 1.3589 |
| Woodie | 1.3183 | 1.3301 | 1.3412 | 1.3530 | 1.3641 | 1.3759 | 1.3870 |
| Fibonacci | 1.3302 | 1.3390 | 1.3444 | 1.3531 | 1.3619 | 1.3673 | 1.3760 |
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): | 47.00 | |
| MACD (12,26,9): | 0.0004 | |
| Directional Movement: | -0.5198 | |
| AROON (14): | -100.0000 | |
| DEMA (21): | 1.3835 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3846 | |
| Elder Ray (13): | -0.0003 | |
| Super Trend (3,10): | 1.3818 | |
| Zig ZAG (10): | 1.3823 | |
| VORTEX (21): | 1.0632 | |
| Stochastique (14,3,5): | 12.17 | |
| TEMA (21): | 1.3832 | |
| Williams %R (14): | -100.00 | |
| Chande Momentum Oscillator (20): | -0.0019 | |
| Repulse (5,40,3): | -0.0840 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0066 | |
| Courbe Coppock: | 0.04 |
| MA7: | 1.3798 | |
| MA20: | 1.3660 | |
| MA50: | 1.3602 | |
| MA100: | 1.3663 | |
| MAexp7: | 1.3830 | |
| MAexp20: | 1.3829 | |
| MAexp50: | 1.3818 | |
| MAexp100: | 1.3802 | |
| Price / MA7: | +0.24% | |
| Price / MA20: | +1.25% | |
| Price / MA50: | +1.68% | |
| Price / MA100: | +1.23% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | +0.09% | |
| Price / MAexp100: | +0.21% |
Quotes :
-
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:
-
USD/CAD Forecast October 17, 2024
-
USD/CAD Forecast October 4, 2024
-
USD/CAD Forecast October 2, 2024
-
USD/CAD Forecast September 27, 2024
-
USD/CAD Forecast September 25, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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