EUR/CAD - 1H - Technical analysis published on 06/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 1.4808 CAD
My targets
1.4770 CAD (-0.0020)
1.4755 CAD (-0.0035)
My analysis
EUR/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 1.4808 CAD. The next support located at 1.4770 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 1.4755 CAD. Below this support, sellers could then target 1.4624 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, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.9
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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 EUR/CAD price is 1.4790 CAD. The price is lower by -0.53% since the last closing and was traded between 1.4786 CAD and 1.4846 CAD over the period. The price is currently at +0.03% from its lowest and -0.38% from its highest.1.4786
1.4846
1.4790
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
A study of price movements over other periods shows the following variations:
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
Technical
Technical analysis of EUR/CAD in 1H shows a overall strongly 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.4624 | 1.4755 | 1.4770 | 1.4790 | 1.4808 | 1.4847 | 1.4867 |
| Change (%) | -1.12% | -0.24% | -0.14% | - | +0.12% | +0.39% | +0.52% |
| Change | -0.0166 | -0.0035 | -0.0020 | - | +0.0018 | +0.0057 | +0.0077 |
| Level | Major | Intermediate | Intermediate | - | Minor | Intermediate | Minor |
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 | 1.4773 | 1.4809 | 1.4838 | 1.4874 | 1.4903 | 1.4939 | 1.4968 |
| Camarilla | 1.4850 | 1.4856 | 1.4862 | 1.4868 | 1.4874 | 1.4880 | 1.4886 |
| Woodie | 1.4771 | 1.4807 | 1.4836 | 1.4872 | 1.4901 | 1.4937 | 1.4966 |
| Fibonacci | 1.4809 | 1.4834 | 1.4849 | 1.4874 | 1.4899 | 1.4914 | 1.4939 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4623 | 1.4697 | 1.4782 | 1.4856 | 1.4941 | 1.5015 | 1.5100 |
| Camarilla | 1.4824 | 1.4839 | 1.4853 | 1.4868 | 1.4883 | 1.4897 | 1.4912 |
| Woodie | 1.4630 | 1.4700 | 1.4789 | 1.4859 | 1.4948 | 1.5018 | 1.5107 |
| Fibonacci | 1.4697 | 1.4757 | 1.4795 | 1.4856 | 1.4916 | 1.4954 | 1.5015 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4412 | 1.4527 | 1.4654 | 1.4769 | 1.4896 | 1.5011 | 1.5138 |
| Camarilla | 1.4716 | 1.4738 | 1.4760 | 1.4782 | 1.4804 | 1.4826 | 1.4849 |
| Woodie | 1.4419 | 1.4530 | 1.4661 | 1.4772 | 1.4903 | 1.5014 | 1.5145 |
| Fibonacci | 1.4527 | 1.4619 | 1.4676 | 1.4769 | 1.4861 | 1.4918 | 1.5011 |
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): | 37.62 | |
| MACD (12,26,9): | -0.0018 | |
| Directional Movement: | -19.8631 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 1.4794 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4826 | |
| Elder Ray (13): | -0.0013 | |
| Super Trend (3,10): | 1.4841 | |
| Zig ZAG (10): | 1.4794 | |
| VORTEX (21): | 0.8222 | |
| Stochastique (14,3,5): | 19.64 | |
| TEMA (21): | 1.4788 | |
| Williams %R (14): | -82.69 | |
| Chande Momentum Oscillator (20): | -0.0033 | |
| Repulse (5,40,3): | -0.0828 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0179 | |
| Courbe Coppock: | 0.48 |
| MA7: | 1.4852 | |
| MA20: | 1.4823 | |
| MA50: | 1.4741 | |
| MA100: | 1.4687 | |
| MAexp7: | 1.4801 | |
| MAexp20: | 1.4818 | |
| MAexp50: | 1.4844 | |
| MAexp100: | 1.4853 | |
| Price / MA7: | -0.42% | |
| Price / MA20: | -0.22% | |
| Price / MA50: | +0.33% | |
| Price / MA100: | +0.70% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.19% | |
| Price / MAexp50: | -0.36% | |
| Price / MAexp100: | -0.42% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on EUR/CAD at the time of the analysis were as follows:
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EUR/CAD Forecast June 4, 2024
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Forex Analysis: EUR/USD, GBP/USD, EUR/CAD - Amana Capital
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Why I'm looking to sell EURCAD: Coleman
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EUR/CAD To Hold Steady
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EUR/CAD Bullish Breakthrough
This member declared not having a position on this financial instrument or a related financial instrument.
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