USD/CAD - 1H - Technical analysis published on 08/05/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 1.3849 CAD
My targets
1.3796 CAD (-0.0018)
1.3778 CAD (-0.0036)
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 1.3849 CAD. The sellers' bearish objective is set at 1.3796 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.3778 CAD. In case of crossing, the next objective would be the support located at 1.3736 CAD.
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
5.2
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This analysis was given by shadybhai. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD price is 1.3814 CAD. The price is lower by -0.43% since the last closing with the lowest point at 1.3810 CAD and the highest point at 1.3947 CAD. The deviation from the price is +0.03% for the low point and -0.95% for the high point.1.3810
1.3947
1.3814
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of USD/CAD in 1H shows an overall bearish trend. The signals given by moving averages are 64.29% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
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 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
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 | 1.3736 | 1.3778 | 1.3796 | 1.3814 | 1.3849 | 1.3865 | 1.3876 |
| Change (%) | -0.56% | -0.26% | -0.13% | - | +0.25% | +0.37% | +0.45% |
| Change | -0.0078 | -0.0036 | -0.0018 | - | +0.0035 | +0.0051 | +0.0062 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Intermediate | Intermediate |
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 | 1.3789 | 1.3811 | 1.3843 | 1.3865 | 1.3897 | 1.3919 | 1.3951 |
| Camarilla | 1.3859 | 1.3864 | 1.3869 | 1.3874 | 1.3879 | 1.3884 | 1.3889 |
| Woodie | 1.3793 | 1.3814 | 1.3847 | 1.3868 | 1.3901 | 1.3922 | 1.3955 |
| Fibonacci | 1.3811 | 1.3832 | 1.3845 | 1.3865 | 1.3886 | 1.3899 | 1.3919 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3709 | 1.3748 | 1.3811 | 1.3850 | 1.3913 | 1.3952 | 1.4015 |
| Camarilla | 1.3846 | 1.3855 | 1.3865 | 1.3874 | 1.3883 | 1.3893 | 1.3902 |
| Woodie | 1.3721 | 1.3754 | 1.3823 | 1.3856 | 1.3925 | 1.3958 | 1.4027 |
| Fibonacci | 1.3748 | 1.3787 | 1.3811 | 1.3850 | 1.3889 | 1.3913 | 1.3952 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3367 | 1.3478 | 1.3643 | 1.3754 | 1.3919 | 1.4030 | 1.4195 |
| Camarilla | 1.3732 | 1.3757 | 1.3783 | 1.3808 | 1.3833 | 1.3859 | 1.3884 |
| Woodie | 1.3394 | 1.3492 | 1.3670 | 1.3768 | 1.3946 | 1.4044 | 1.4222 |
| Fibonacci | 1.3478 | 1.3583 | 1.3649 | 1.3754 | 1.3859 | 1.3925 | 1.4030 |
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): | 33.01 | |
| MACD (12,26,9): | -0.0006 | |
| Directional Movement: | -2.3134 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.3859 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3917 | |
| Elder Ray (13): | -0.0028 | |
| Super Trend (3,10): | 1.3907 | |
| Zig ZAG (10): | 1.3833 | |
| VORTEX (21): | 0.9091 | |
| Stochastique (14,3,5): | 6.33 | |
| TEMA (21): | 1.3851 | |
| Williams %R (14): | -97.66 | |
| Chande Momentum Oscillator (20): | -0.0052 | |
| Repulse (5,40,3): | -0.3328 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0020 | |
| Courbe Coppock: | 0.25 |
| MA7: | 1.3847 | |
| MA20: | 1.3755 | |
| MA50: | 1.3716 | |
| MA100: | 1.3683 | |
| MAexp7: | 1.3851 | |
| MAexp20: | 1.3865 | |
| MAexp50: | 1.3862 | |
| MAexp100: | 1.3851 | |
| Price / MA7: | -0.24% | |
| Price / MA20: | +0.43% | |
| Price / MA50: | +0.71% | |
| Price / MA100: | +0.96% | |
| Price / MAexp7: | -0.27% | |
| Price / MAexp20: | -0.37% | |
| Price / MAexp50: | -0.35% | |
| Price / MAexp100: | -0.27% |
Quotes :
-
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 July 31, 2024
-
USD/CAD Forecast July 29, 2024
-
USD/CAD Forecast July 25, 2024
-
USD/CAD Forecast July 17, 2024
-
USD/CAD Forecast July 16, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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