USD/CAD - 1H - Technical analysis published on 08/08/2024 (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
17%
44%
39%
My opinion
Bearish under 1.3757 CAD
My targets
1.3709 CAD (-0.0021)
1.3598 CAD (-0.0132)
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 1.3757 CAD. The next support located at 1.3709 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 1.3598 CAD. Below this support, sellers could then target 1.3454 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.
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
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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 1.3730 CAD. On the day, this instrument lost -0.16% and was between 1.3726 CAD and 1.3766 CAD. This implies that the price is at +0.03% from its lowest and at -0.26% from its highest.1.3726
1.3766
1.3730
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
Technical
Technical analysis of USD/CAD in 1H shows a overall strongly bearish trend. 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, only 8 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
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 | 1.3197 | 1.3454 | 1.3598 | 1.3730 | 1.3736 | 1.3757 | 1.3787 |
| Change (%) | -3.88% | -2.01% | -0.96% | - | +0.04% | +0.20% | +0.42% |
| Change | -0.0533 | -0.0276 | -0.0132 | - | +0.0006 | +0.0027 | +0.0057 |
| Level | Minor | Minor | Intermediate | - | Major | Minor | 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 | 1.3648 | 1.3685 | 1.3718 | 1.3755 | 1.3788 | 1.3825 | 1.3858 |
| Camarilla | 1.3733 | 1.3739 | 1.3746 | 1.3752 | 1.3758 | 1.3765 | 1.3771 |
| Woodie | 1.3647 | 1.3684 | 1.3717 | 1.3754 | 1.3787 | 1.3824 | 1.3857 |
| Fibonacci | 1.3685 | 1.3711 | 1.3728 | 1.3755 | 1.3781 | 1.3798 | 1.3825 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 40.39 | |
| MACD (12,26,9): | -0.0005 | |
| Directional Movement: | -3.3012 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.3734 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3759 | |
| Elder Ray (13): | -0.0008 | |
| Super Trend (3,10): | 1.3763 | |
| Zig ZAG (10): | 1.3731 | |
| VORTEX (21): | 0.9042 | |
| Stochastique (14,3,5): | 10.30 | |
| TEMA (21): | 1.3738 | |
| Williams %R (14): | -89.19 | |
| Chande Momentum Oscillator (20): | 0.0000 | |
| Repulse (5,40,3): | -0.0448 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0041 | |
| Courbe Coppock: | 0.02 |
| MA7: | 1.3805 | |
| MA20: | 1.3773 | |
| MA50: | 1.3719 | |
| MA100: | 1.3689 | |
| MAexp7: | 1.3736 | |
| MAexp20: | 1.3741 | |
| MAexp50: | 1.3756 | |
| MAexp100: | 1.3780 | |
| Price / MA7: | -0.54% | |
| Price / MA20: | -0.31% | |
| Price / MA50: | +0.08% | |
| Price / MA100: | +0.30% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.08% | |
| Price / MAexp50: | -0.19% | |
| Price / MAexp100: | -0.36% |
Quotes :
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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 August 8, 2024
-
USD/CAD Forecast July 31, 2024
-
USD/CAD Forecast July 29, 2024
-
USD/CAD Forecast July 25, 2024
-
USD/CAD Forecast July 17, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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