USD/CAD - 1H - Technical analysis published on 05/16/2024 (GMT)
- 66
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
33%
28%
39%
My opinion
Bearish under 1.3634 CAD
My targets
1.3594 CAD (-0.0017)
1.3525 CAD (-0.0086)
My analysis
The bearish basic trend is very strong on USD/CAD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 1.3634 CAD. Crossing the first support at 1.3594 CAD would be a sign of a further potential price plummet. 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. Caution, a return to above the resistance located at 1.3634 CAD would be a sign of a possible consolidation phase of the short-term basic trend. 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.2
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 price is 1.3611 CAD. On the day, this instrument gained +0.10% and was traded between 1.3590 CAD and 1.3641 CAD over the period. The price is currently at +0.15% from its lowest and -0.22% from its highest.1.3590
1.3641
1.3611
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/CAD in 1H shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD indicator is back under 0
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 horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3453 | 1.3525 | 1.3594 | 1.3611 | 1.3634 | 1.3661 | 1.3686 |
| Change (%) | -1.16% | -0.63% | -0.12% | - | +0.17% | +0.37% | +0.55% |
| Change | -0.0158 | -0.0086 | -0.0017 | - | +0.0023 | +0.0050 | +0.0075 |
| Level | Intermediate | Minor | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3501 | 1.3545 | 1.3572 | 1.3616 | 1.3643 | 1.3687 | 1.3714 |
| Camarilla | 1.3579 | 1.3585 | 1.3592 | 1.3598 | 1.3605 | 1.3611 | 1.3618 |
| Woodie | 1.3492 | 1.3541 | 1.3563 | 1.3612 | 1.3634 | 1.3683 | 1.3705 |
| Fibonacci | 1.3545 | 1.3573 | 1.3589 | 1.3616 | 1.3644 | 1.3660 | 1.3687 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 44.65 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | -5.5072 | |
| AROON (14): | 85.7143 | |
| DEMA (21): | 1.3618 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3604 | |
| Elder Ray (13): | -0.0005 | |
| Super Trend (3,10): | 1.3598 | |
| Zig ZAG (10): | 1.3612 | |
| VORTEX (21): | 1.0478 | |
| Stochastique (14,3,5): | 60.22 | |
| TEMA (21): | 1.3625 | |
| Williams %R (14): | -66.67 | |
| Chande Momentum Oscillator (20): | 0.0010 | |
| Repulse (5,40,3): | -0.1413 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0021 | |
| Courbe Coppock: | 0.34 |
| MA7: | 1.3658 | |
| MA20: | 1.3684 | |
| MA50: | 1.3629 | |
| MA100: | 1.3544 | |
| MAexp7: | 1.3622 | |
| MAexp20: | 1.3620 | |
| MAexp50: | 1.3629 | |
| MAexp100: | 1.3645 | |
| Price / MA7: | -0.34% | |
| Price / MA20: | -0.53% | |
| Price / MA50: | -0.13% | |
| Price / MA100: | +0.49% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.13% | |
| Price / MAexp100: | -0.25% |
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:
-
USD/CAD Forecast May 17, 2024
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis USD/CAD - 1H