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:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1.3714 CAD
My targets
1.3655 CAD (-0.0023)
1.3632 CAD (-0.0046)
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 1.3714 CAD. The next support located at 1.3655 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 1.3632 CAD. Below this support, sellers could then target 1.3524 CAD.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.4
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3678 CAD. On the day, this instrument lost -0.34% and was traded between 1.3678 CAD and 1.3737 CAD over the period. The price is currently at 0% from its lowest and -0.43% from its highest.1.3678
1.3737
1.3678
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
Technical analysis of USD/CAD in 1H shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
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
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 | 1.3632 | 1.3655 | 1.3674 | 1.3678 | 1.3686 | 1.3714 | 1.3730 |
| Change (%) | -0.34% | -0.17% | -0.03% | - | +0.06% | +0.26% | +0.38% |
| Change | -0.0046 | -0.0023 | -0.0004 | - | +0.0008 | +0.0036 | +0.0052 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Minor | Intermediate |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 29.07 | |
| MACD (12,26,9): | -0.0013 | |
| Directional Movement: | -17.9839 | |
| AROON (14): | -21.4285 | |
| DEMA (21): | 1.3697 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3730 | |
| Elder Ray (13): | -0.0021 | |
| Super Trend (3,10): | 1.3729 | |
| Zig ZAG (10): | 1.3684 | |
| VORTEX (21): | 0.8351 | |
| Stochastique (14,3,5): | 8.36 | |
| TEMA (21): | 1.3687 | |
| Williams %R (14): | -94.00 | |
| Chande Momentum Oscillator (20): | -0.0037 | |
| Repulse (5,40,3): | -0.1353 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0120 | |
| Courbe Coppock: | 0.37 |
| MA7: | 1.3698 | |
| MA20: | 1.3701 | |
| MA50: | 1.3603 | |
| MA100: | 1.3510 | |
| MAexp7: | 1.3696 | |
| MAexp20: | 1.3714 | |
| MAexp50: | 1.3724 | |
| MAexp100: | 1.3718 | |
| Price / MA7: | -0.15% | |
| Price / MA20: | -0.17% | |
| Price / MA50: | +0.55% | |
| Price / MA100: | +1.24% | |
| Price / MAexp7: | -0.13% | |
| Price / MAexp20: | -0.26% | |
| Price / MAexp50: | -0.34% | |
| Price / MAexp100: | -0.29% |
Quotes :
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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 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
-
Technical Analysis: 22/03/2024 - Is there stronger bullish trend for USDCAD?
This member declared not having a position on this financial instrument or a related financial instrument.
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