USD/CAD - 1H - Technical analysis published on 06/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 1.3660 CAD
My targets
1.3596 CAD (-0.0019)
1.3525 CAD (-0.0090)
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 1.3660 CAD. The next support located at 1.3596 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 1.3525 CAD. Below this support, sellers could then target 1.3453 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.
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
0
10
7.7
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3615 CAD. The price registered a decrease of -0.03% on the session and was between 1.3615 CAD and 1.3622 CAD. This implies that the price is at 0% from its lowest and at -0.05% from its highest.1.3615
1.3622
1.3615
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 USD/CAD in 1H shows a overall strongly bearish trend. 89.29% 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 high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3525 | 1.3596 | 1.3614 | 1.3615 | 1.3624 | 1.3660 | 1.3692 |
| Change (%) | -0.66% | -0.14% | -0.01% | - | +0.07% | +0.33% | +0.57% |
| Change | -0.0090 | -0.0019 | -0.0001 | - | +0.0009 | +0.0045 | +0.0077 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | 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 | 1.3598 | 1.3608 | 1.3614 | 1.3624 | 1.3630 | 1.3640 | 1.3646 |
| Camarilla | 1.3615 | 1.3616 | 1.3618 | 1.3619 | 1.3621 | 1.3622 | 1.3623 |
| Woodie | 1.3595 | 1.3607 | 1.3611 | 1.3623 | 1.3627 | 1.3639 | 1.3643 |
| Fibonacci | 1.3608 | 1.3614 | 1.3618 | 1.3624 | 1.3630 | 1.3634 | 1.3640 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3462 | 1.3538 | 1.3583 | 1.3659 | 1.3704 | 1.3780 | 1.3825 |
| Camarilla | 1.3595 | 1.3606 | 1.3617 | 1.3628 | 1.3639 | 1.3650 | 1.3661 |
| Woodie | 1.3447 | 1.3530 | 1.3568 | 1.3651 | 1.3689 | 1.3772 | 1.3810 |
| Fibonacci | 1.3538 | 1.3584 | 1.3613 | 1.3659 | 1.3705 | 1.3734 | 1.3780 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3358 | 1.3474 | 1.3551 | 1.3667 | 1.3744 | 1.3860 | 1.3937 |
| Camarilla | 1.3575 | 1.3593 | 1.3610 | 1.3628 | 1.3646 | 1.3663 | 1.3681 |
| Woodie | 1.3339 | 1.3464 | 1.3532 | 1.3657 | 1.3725 | 1.3850 | 1.3918 |
| Fibonacci | 1.3474 | 1.3548 | 1.3593 | 1.3667 | 1.3741 | 1.3786 | 1.3860 |
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): | 31.47 | |
| MACD (12,26,9): | -0.0013 | |
| Directional Movement: | -19.0198 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 1.3621 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3653 | |
| Elder Ray (13): | -0.0012 | |
| Super Trend (3,10): | 1.3654 | |
| Zig ZAG (10): | 1.3622 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 9.52 | |
| TEMA (21): | 1.3617 | |
| Williams %R (14): | -100.00 | |
| Chande Momentum Oscillator (20): | -0.0013 | |
| Repulse (5,40,3): | -0.0990 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0149 | |
| Courbe Coppock: | 0.31 |
| MA7: | 1.3648 | |
| MA20: | 1.3656 | |
| MA50: | 1.3662 | |
| MA100: | 1.3582 | |
| MAexp7: | 1.3625 | |
| MAexp20: | 1.3639 | |
| MAexp50: | 1.3657 | |
| MAexp100: | 1.3663 | |
| Price / MA7: | -0.24% | |
| Price / MA20: | -0.30% | |
| Price / MA50: | -0.34% | |
| Price / MA100: | +0.24% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.18% | |
| Price / MAexp50: | -0.31% | |
| Price / MAexp100: | -0.35% |
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 30, 2024
-
USD/CAD Forecast May 28, 2024
-
USD/CAD Forecast May 24, 2024
-
USD/CAD Forecast May 23, 2024
-
USD/CAD Forecast May 22, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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