USD/CAD - 1H - Technical analysis published on 08/19/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 1.3695 CAD
My targets
1.3640 CAD (-0.0025)
1.3525 CAD (-0.0140)
My analysis
The bearish trend is currently very strong for USD/CAD. As long as the price remains below the resistance at 1.3695 CAD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.3640 CAD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.3525 CAD as an objective. Crossing it would then enable sellers to target 1.3454 CAD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.8
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This analysis was given by Muhahaha. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/CAD rating 1.3665 CAD. The price registered a decrease of -0.10% on the session with the lowest point at 1.3661 CAD and the highest point at 1.3688 CAD. The deviation from the price is +0.03% for the low point and -0.17% for the high point.1.3661
1.3688
1.3665
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
A technical analysis in 1H of this USD/CAD chart shows a sharp bearish trend. 92.86% 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 market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
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 | 1.3454 | 1.3525 | 1.3640 | 1.3665 | 1.3695 | 1.3718 | 1.3735 |
| Change (%) | -1.54% | -1.02% | -0.18% | - | +0.22% | +0.39% | +0.51% |
| Change | -0.0211 | -0.0140 | -0.0025 | - | +0.0030 | +0.0053 | +0.0070 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Major | 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 | 1.3592 | 1.3632 | 1.3656 | 1.3696 | 1.3720 | 1.3760 | 1.3784 |
| Camarilla | 1.3661 | 1.3667 | 1.3673 | 1.3679 | 1.3685 | 1.3691 | 1.3697 |
| Woodie | 1.3583 | 1.3628 | 1.3647 | 1.3692 | 1.3711 | 1.3756 | 1.3775 |
| Fibonacci | 1.3632 | 1.3657 | 1.3672 | 1.3696 | 1.3721 | 1.3736 | 1.3760 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3577 | 1.3625 | 1.3652 | 1.3700 | 1.3727 | 1.3775 | 1.3802 |
| Camarilla | 1.3658 | 1.3665 | 1.3672 | 1.3679 | 1.3686 | 1.3693 | 1.3700 |
| Woodie | 1.3567 | 1.3620 | 1.3642 | 1.3695 | 1.3717 | 1.3770 | 1.3792 |
| Fibonacci | 1.3625 | 1.3654 | 1.3671 | 1.3700 | 1.3729 | 1.3746 | 1.3775 |
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): | 35.80 | |
| MACD (12,26,9): | -0.0008 | |
| Directional Movement: | -14.8418 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.3668 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3685 | |
| Elder Ray (13): | -0.0004 | |
| Super Trend (3,10): | 1.3690 | |
| Zig ZAG (10): | 1.3667 | |
| VORTEX (21): | 0.8497 | |
| Stochastique (14,3,5): | 43.06 | |
| TEMA (21): | 1.3667 | |
| Williams %R (14): | -79.17 | |
| Chande Momentum Oscillator (20): | 0.0001 | |
| Repulse (5,40,3): | -0.1108 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0108 | |
| Courbe Coppock: | 0.09 |
| MA7: | 1.3711 | |
| MA20: | 1.3779 | |
| MA50: | 1.3723 | |
| MA100: | 1.3699 | |
| MAexp7: | 1.3673 | |
| MAexp20: | 1.3679 | |
| MAexp50: | 1.3693 | |
| MAexp100: | 1.3707 | |
| Price / MA7: | -0.34% | |
| Price / MA20: | -0.83% | |
| Price / MA50: | -0.42% | |
| Price / MA100: | -0.25% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.20% | |
| Price / MAexp100: | -0.31% |
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 15, 2024
-
USD/CAD Forecast August 13, 2024
-
USD/CAD Forecast August 12, 2024
-
USD/CAD Forecast August 8, 2024
-
USD/CAD Forecast July 31, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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