USD/CAD

- CAD (-)

- Real time data - Forex

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Change:	-
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Type:	Forex
Ticker:	USDCAD
ISIN:

USD/CAD - 1H - Technical analysis published on 05/02/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Neutral

Technical indicators

17%

50%

33%

My opinion

Bearish under 1.3750 CAD

My targets

1.3686 CAD (-0.0035)

1.3655 CAD (-0.0066)

My analysis

The strong short-term decrease of USD/CAD should quickly allow the basic trend to become bearish. As long as the price remains below the resistance located at 1.3750 CAD, a sale could be considered. The first bearish objective is located at 1.3686 CAD. The bearish momentum would be boosted by a support break. Sellers could then target the support located at 1.3655 CAD. If there is any crossing, the next objective would be support 1.3632 CAD. Caution, if there is a return to above 1.3750 CAD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

2.1

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The USD/CAD rating is 1.3721 CAD. The price registered a decrease of -0.03% on the session and was traded between 1.3704 CAD and 1.3737 CAD over the period. The price is currently at +0.12% from its lowest and -0.12% from its highest.

1.3704

1.3737

1.3721

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

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

Technical analysis of this 1H chart of USD/CAD indicates that the overall trend is not clearly defined. The strong bearish signals currently being given by short-term moving averages could allow the overall trend to return to a bearish trend. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Other results related to technical indicators were also found by the Central Indicators scanner:

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.3674	1.3686	1.3714	1.3721	1.3730	1.3750	1.3784
Change (%)	-0.34%	-0.26%	-0.05%	-	+0.07%	+0.21%	+0.46%
Change	-0.0047	-0.0035	-0.0007	-	+0.0009	+0.0029	+0.0063
Level	Minor	Intermediate	Minor	-	Intermediate	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	1.3611	1.3657	1.3691	1.3737	1.3771	1.3817	1.3851
Camarilla	1.3703	1.3710	1.3718	1.3725	1.3732	1.3740	1.3747
Woodie	1.3605	1.3654	1.3685	1.3734	1.3765	1.3814	1.3845
Fibonacci	1.3657	1.3688	1.3706	1.3737	1.3768	1.3786	1.3817

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	1.3187	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):	45.05
MACD (12,26,9):	-0.0008
Directional Movement:	-14.1777
AROON (14):	-78.5714
DEMA (21):	1.3718
Parabolic SAR (0,02-0,02-0,2):	1.3758
Elder Ray (13):	-0.0007
Super Trend (3,10):	1.3757
Zig ZAG (10):	1.3718
VORTEX (21):	0.8616
Stochastique (14,3,5):	46.13
TEMA (21):	1.3710
Williams %R (14):	-57.58
Chande Momentum Oscillator (20):	-0.0010
Repulse (5,40,3):	0.0404
ROCnROLL:	2
TRIX (15,9):	-0.0097
Courbe Coppock:	0.22

MA7:	1.3703
MA20:	1.3703
MA50:	1.3603
MA100:	1.3511
MAexp7:	1.3720
MAexp20:	1.3728
MAexp50:	1.3731
MAexp100:	1.3720
Price / MA7:	+0.13%
Price / MA20:	+0.13%
Price / MA50:	+0.87%
Price / MA100:	+1.55%
Price / MAexp7:	+0.01%
Price / MAexp20:	-0.05%
Price / MAexp50:	-0.07%
Price / MAexp100:	+0.01%

Quotes : - Real time data - Forex

News

Don't forget to follow the news on USD/CAD. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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