USD/CAD - 1H - Technical analysis published on 02/17/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
56%
11%
33%
My opinion
Bearish under 1.3247 CAD
My targets
1.3216 CAD (-0.0017)
1.3147 CAD (-0.0086)
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 1.3247 CAD. The next support located at 1.3216 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 1.3147 CAD. Below this support, sellers could then target 1.3054 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.
In the very short term, technical indicators are in opposition with the general bearish 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
4.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3233 CAD. The price registered a decrease of -0.14% on the session and was traded between 1.3225 CAD and 1.3258 CAD over the period. The price is currently at +0.06% from its lowest and -0.19% from its highest.1.3225
1.3258
1.3233
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by USD/CAD:
Technical
A technical analysis in 1H of this USD/CAD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals 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
In fact, 10 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
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:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 | 1.3054 | 1.3147 | 1.3216 | 1.3233 | 1.3235 | 1.3247 | 1.3268 |
| Change (%) | -1.35% | -0.65% | -0.13% | - | +0.02% | +0.11% | +0.26% |
| Change | -0.0179 | -0.0086 | -0.0017 | - | +0.0002 | +0.0014 | +0.0035 |
| Level | Intermediate | Intermediate | Minor | - | Major | Minor | Intermediate |
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 | 1.3199 | 1.3216 | 1.3234 | 1.3251 | 1.3269 | 1.3286 | 1.3304 |
| Camarilla | 1.3241 | 1.3245 | 1.3248 | 1.3251 | 1.3254 | 1.3257 | 1.3261 |
| Woodie | 1.3199 | 1.3216 | 1.3234 | 1.3251 | 1.3269 | 1.3286 | 1.3304 |
| Fibonacci | 1.3216 | 1.3230 | 1.3238 | 1.3251 | 1.3265 | 1.3273 | 1.3286 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3119 | 1.3176 | 1.3214 | 1.3271 | 1.3309 | 1.3366 | 1.3404 |
| Camarilla | 1.3225 | 1.3234 | 1.3242 | 1.3251 | 1.3260 | 1.3268 | 1.3277 |
| Woodie | 1.3109 | 1.3171 | 1.3204 | 1.3266 | 1.3299 | 1.3361 | 1.3394 |
| Fibonacci | 1.3176 | 1.3213 | 1.3235 | 1.3271 | 1.3308 | 1.3330 | 1.3366 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2747 | 1.2852 | 1.3044 | 1.3149 | 1.3341 | 1.3446 | 1.3638 |
| Camarilla | 1.3155 | 1.3183 | 1.3210 | 1.3237 | 1.3264 | 1.3291 | 1.3319 |
| Woodie | 1.2792 | 1.2874 | 1.3089 | 1.3171 | 1.3386 | 1.3468 | 1.3683 |
| Fibonacci | 1.2852 | 1.2965 | 1.3035 | 1.3149 | 1.3262 | 1.3332 | 1.3446 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.35 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | -2.6688 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 1.3231 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3226 | |
| Elder Ray (13): | -0.0001 | |
| Super Trend (3,10): | 1.3249 | |
| Zig ZAG (10): | 1.3237 | |
| VORTEX (21): | 0.9161 | |
| Stochastique (14,3,5): | 50.79 | |
| TEMA (21): | 1.3232 | |
| Williams %R (14): | -42.86 | |
| Chande Momentum Oscillator (20): | -0.0004 | |
| Repulse (5,40,3): | 0.0418 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0048 | |
| Courbe Coppock: | 0.07 |
| MA7: | 1.3275 | |
| MA20: | 1.3228 | |
| MA50: | 1.3142 | |
| MA100: | 1.3180 | |
| MAexp7: | 1.3234 | |
| MAexp20: | 1.3236 | |
| MAexp50: | 1.3244 | |
| MAexp100: | 1.3254 | |
| Price / MA7: | -0.32% | |
| Price / MA20: | +0.04% | |
| Price / MA50: | +0.69% | |
| Price / MA100: | +0.40% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.08% | |
| Price / MAexp100: | -0.16% |
News
The last news published on USD/CAD at the time of the generation of this analysis was as follows:
-
Crude Oil, DAX 30, USD/CAD Forecasts with IG Client Sentiment
-
US Dollar Resistance, USD/CAD Tightening Range: Webinar
-
Identifying USD/CAD Price Trends with Trader Sentiment
-
Will the USD/CAD rebound continue? – 9th January 2020
-
USD/CAD turns positive
This member declared not having a position on this financial instrument or a related financial instrument.
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