USD/CAD - 1H - Technical analysis published on 06/12/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 1.3733 CAD
My targets
1.3664 CAD (-0.0026)
1.3596 CAD (-0.0094)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on USD/CAD as long as the price remains well below 1.3733 CAD. The sellers' bearish objective is set at 1.3664 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.3596 CAD. In case of crossing, the next objective would be the support located at 1.3453 CAD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
6.8
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
USD/CAD rating 1.3690 CAD. The price registered a decrease of -0.47% on the session with the lowest point at 1.3680 CAD and the highest point at 1.3761 CAD. The deviation from the price is +0.07% for the low point and -0.52% for the high point.1.3680
1.3761
1.3690
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 this 1H chart of USD/CAD indicates that the overall trend is strongly bearish. The signals given by moving averages are 82.14% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Moving Average bearish crossovers : AMA50 & AMA100
Type : Bearish
Timeframe : 1 hour
In fact, 13 technical indicators on 18 studied are currently positioned 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
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of 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 | 1.3453 | 1.3596 | 1.3664 | 1.3690 | 1.3699 | 1.3733 | 1.3770 |
| Change (%) | -1.73% | -0.69% | -0.19% | - | +0.07% | +0.31% | +0.58% |
| Change | -0.0237 | -0.0094 | -0.0026 | - | +0.0009 | +0.0043 | +0.0080 |
| Level | Minor | Major | Major | - | 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 | 1.3694 | 1.3721 | 1.3738 | 1.3765 | 1.3782 | 1.3809 | 1.3826 |
| Camarilla | 1.3743 | 1.3747 | 1.3751 | 1.3755 | 1.3759 | 1.3763 | 1.3767 |
| Woodie | 1.3689 | 1.3719 | 1.3733 | 1.3763 | 1.3777 | 1.3807 | 1.3821 |
| Fibonacci | 1.3721 | 1.3738 | 1.3748 | 1.3765 | 1.3782 | 1.3792 | 1.3809 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3491 | 1.3547 | 1.3656 | 1.3712 | 1.3821 | 1.3877 | 1.3986 |
| Camarilla | 1.3720 | 1.3735 | 1.3750 | 1.3765 | 1.3780 | 1.3795 | 1.3810 |
| Woodie | 1.3518 | 1.3560 | 1.3683 | 1.3725 | 1.3848 | 1.3890 | 1.4013 |
| Fibonacci | 1.3547 | 1.3610 | 1.3649 | 1.3712 | 1.3775 | 1.3814 | 1.3877 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 26.56 | |
| MACD (12,26,9): | -0.0016 | |
| Directional Movement: | -30.9173 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 1.3714 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3732 | |
| Elder Ray (13): | -0.0032 | |
| Super Trend (3,10): | 1.3732 | |
| Zig ZAG (10): | 1.3695 | |
| VORTEX (21): | 0.7210 | |
| Stochastique (14,3,5): | 12.42 | |
| TEMA (21): | 1.3700 | |
| Williams %R (14): | -82.67 | |
| Chande Momentum Oscillator (20): | -0.0057 | |
| Repulse (5,40,3): | -0.1423 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.62 |
| MA7: | 1.3716 | |
| MA20: | 1.3676 | |
| MA50: | 1.3683 | |
| MA100: | 1.3597 | |
| MAexp7: | 1.3708 | |
| MAexp20: | 1.3732 | |
| MAexp50: | 1.3744 | |
| MAexp100: | 1.3736 | |
| Price / MA7: | -0.19% | |
| Price / MA20: | +0.10% | |
| Price / MA50: | +0.05% | |
| Price / MA100: | +0.68% | |
| Price / MAexp7: | -0.13% | |
| Price / MAexp20: | -0.31% | |
| Price / MAexp50: | -0.39% | |
| Price / MAexp100: | -0.33% |
Quotes :
-
Real time data
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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 June 13, 2024
-
USD/CAD Forecast June 11, 2024
-
USD/CAD Forecast June 10, 2024
-
USD/CAD Forecast May 30, 2024
-
USD/CAD Forecast May 28, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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