USD/CAD - Daily - Technical analysis published on 09/23/2024 (GMT)
- 230
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 1.3617 CAD
My targets
1.3448 CAD (-0.0113)
1.3385 CAD (-0.0176)
My analysis
The basic trend is very bearish on USD/CAD but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on USD/CAD. As long as you stay below the resistance 1.3617 CAD, sellers' retain the upper hand. A break in the support at 1.3448 CAD would be a signal that the basic trend will reverse. Sellers would then use the next support located at 1.3385 CAD as an objective. Crossing it would then enable sellers to target 1.3197 CAD. If the price were to depress the resistance 1.3617 CAD in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a 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
3.9
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 Scorpus. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CAD rating is 1.3561 CAD. The price registered a decrease of -0.04% on the session and was traded between 1.3555 CAD and 1.3570 CAD over the period. The price is currently at +0.04% from its lowest and -0.07% from its highest.1.3555
1.3570
1.3561
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
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this USD/CAD chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the strongly bearish trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3385 | 1.3448 | 1.3525 | 1.3561 | 1.3617 | 1.3735 | 1.3819 |
| Change (%) | -1.30% | -0.83% | -0.27% | - | +0.41% | +1.28% | +1.90% |
| Change | -0.0176 | -0.0113 | -0.0036 | - | +0.0056 | +0.0174 | +0.0258 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | 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 | 1.3495 | 1.3518 | 1.3543 | 1.3566 | 1.3591 | 1.3614 | 1.3639 |
| Camarilla | 1.3554 | 1.3558 | 1.3563 | 1.3567 | 1.3571 | 1.3576 | 1.3580 |
| Woodie | 1.3495 | 1.3519 | 1.3543 | 1.3567 | 1.3591 | 1.3615 | 1.3639 |
| Fibonacci | 1.3518 | 1.3537 | 1.3548 | 1.3566 | 1.3585 | 1.3596 | 1.3614 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3402 | 1.3468 | 1.3517 | 1.3583 | 1.3632 | 1.3698 | 1.3747 |
| Camarilla | 1.3535 | 1.3546 | 1.3557 | 1.3567 | 1.3578 | 1.3588 | 1.3599 |
| Woodie | 1.3395 | 1.3464 | 1.3510 | 1.3579 | 1.3625 | 1.3694 | 1.3740 |
| Fibonacci | 1.3468 | 1.3512 | 1.3539 | 1.3583 | 1.3627 | 1.3654 | 1.3698 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2799 | 1.3119 | 1.3306 | 1.3626 | 1.3813 | 1.4133 | 1.4320 |
| Camarilla | 1.3353 | 1.3399 | 1.3446 | 1.3492 | 1.3539 | 1.3585 | 1.3631 |
| Woodie | 1.2732 | 1.3086 | 1.3239 | 1.3593 | 1.3746 | 1.4100 | 1.4253 |
| Fibonacci | 1.3119 | 1.3313 | 1.3433 | 1.3626 | 1.3820 | 1.3940 | 1.4133 |
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): | 44.84 | |
| MACD (12,26,9): | -0.0014 | |
| Directional Movement: | 3.9381 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.3551 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3648 | |
| Elder Ray (13): | -0.0010 | |
| Super Trend (3,10): | 1.3630 | |
| Zig ZAG (10): | 1.3558 | |
| VORTEX (21): | 1.0507 | |
| Stochastique (14,3,5): | 53.30 | |
| TEMA (21): | 1.3566 | |
| Williams %R (14): | -48.90 | |
| Chande Momentum Oscillator (20): | 0.0059 | |
| Repulse (5,40,3): | -0.1842 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0273 | |
| Courbe Coppock: | 1.02 |
| MA7: | 1.3580 | |
| MA20: | 1.3546 | |
| MA50: | 1.3656 | |
| MA100: | 1.3666 | |
| MAexp7: | 1.3572 | |
| MAexp20: | 1.3577 | |
| MAexp50: | 1.3617 | |
| MAexp100: | 1.3637 | |
| Price / MA7: | -0.14% | |
| Price / MA20: | +0.11% | |
| Price / MA50: | -0.70% | |
| Price / MA100: | -0.77% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.12% | |
| Price / MAexp50: | -0.41% | |
| Price / MAexp100: | -0.56% |
Quotes :
-
Real time data
-
Forex
News
The latest news and videos published on USD/CAD at the time of the analysis were as follows:
-
USD/CAD Forecast September 17, 2024
-
USD/CAD Forecast September 10, 2024
-
USD/CAD Forecast September 4, 2024
-
USD/CAD Forecast August 21, 2024
-
USD/CAD Forecast August 15, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis USD/CAD - Daily