USD/CAD - 1H - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 1.3686 CAD
My targets
1.3609 CAD (-0.0029)
1.3525 CAD (-0.0113)
My analysis
The bearish trend is currently very strong for USD/CAD. As long as the price remains below the resistance at 1.3686 CAD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.3609 CAD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.3525 CAD as an objective. Crossing it would then enable sellers to target 1.3453 CAD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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 Barts_XV. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.3638 CAD. The price registered a decrease of -0.12% on the session with the lowest point at 1.3637 CAD and the highest point at 1.3654 CAD. The deviation from the price is +0.01% for the low point and -0.12% for the high point.1.3637
1.3654
1.3638
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 this 1H chart of USD/CAD indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 12 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Aroon indicator bearish trend
Type : Bearish
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 support of channel
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
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 | 1.3525 | 1.3609 | 1.3634 | 1.3638 | 1.3648 | 1.3686 | 1.3715 |
| Change (%) | -0.83% | -0.21% | -0.03% | - | +0.07% | +0.35% | +0.56% |
| Change | -0.0113 | -0.0029 | -0.0004 | - | +0.0010 | +0.0048 | +0.0077 |
| Level | Minor | Minor | Major | - | Minor | Major | Minor |
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 | 1.3570 | 1.3601 | 1.3628 | 1.3659 | 1.3686 | 1.3717 | 1.3744 |
| Camarilla | 1.3638 | 1.3643 | 1.3649 | 1.3654 | 1.3659 | 1.3665 | 1.3670 |
| Woodie | 1.3567 | 1.3600 | 1.3625 | 1.3658 | 1.3683 | 1.3716 | 1.3741 |
| Fibonacci | 1.3601 | 1.3624 | 1.3637 | 1.3659 | 1.3682 | 1.3695 | 1.3717 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3487 | 1.3561 | 1.3616 | 1.3690 | 1.3745 | 1.3819 | 1.3874 |
| Camarilla | 1.3637 | 1.3648 | 1.3660 | 1.3672 | 1.3684 | 1.3696 | 1.3708 |
| Woodie | 1.3479 | 1.3556 | 1.3608 | 1.3685 | 1.3737 | 1.3814 | 1.3866 |
| Fibonacci | 1.3561 | 1.3610 | 1.3640 | 1.3690 | 1.3739 | 1.3769 | 1.3819 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 37.36 | |
| MACD (12,26,9): | -0.0007 | |
| Directional Movement: | -8.3918 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 1.3643 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3676 | |
| Elder Ray (13): | -0.0006 | |
| Super Trend (3,10): | 1.3665 | |
| Zig ZAG (10): | 1.3642 | |
| VORTEX (21): | 0.8364 | |
| Stochastique (14,3,5): | 20.54 | |
| TEMA (21): | 1.3641 | |
| Williams %R (14): | -82.14 | |
| Chande Momentum Oscillator (20): | -0.0020 | |
| Repulse (5,40,3): | -0.0158 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0066 | |
| Courbe Coppock: | 0.13 |
| MA7: | 1.3682 | |
| MA20: | 1.3694 | |
| MA50: | 1.3626 | |
| MA100: | 1.3540 | |
| MAexp7: | 1.3645 | |
| MAexp20: | 1.3652 | |
| MAexp50: | 1.3662 | |
| MAexp100: | 1.3674 | |
| Price / MA7: | -0.32% | |
| Price / MA20: | -0.41% | |
| Price / MA50: | +0.09% | |
| Price / MA100: | +0.72% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.18% | |
| Price / MAexp100: | -0.26% |
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:
-
Trade of the Week: Time to go long USDCAD?
-
USD/CAD Forecast May 8, 2024
-
USD/CAD Forecast May 2, 2024
-
USD/CAD Forecast April 10, 2024
-
Technical Analysis: 05/03/2024 - USDCAD ticks higher within ascending channel
This member declared not having a position on this financial instrument or a related financial instrument.
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