Londinia Opportunities Analyses - 05/16/2024 (GMT) GBP/SGD - 1H
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
- FX/Indices
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
0%
33%
My opinion
Bullish above 1.7027 SGD
My targets
1.7081 SGD (+0.0029)
1.7138 SGD (+0.0086)
My analysis
The bullish trend is currently very strong on GBP/SGD. As long as the price remains above the support at 1.7027 SGD, you could try to benefit from the boom. The first bullish objective is located at 1.7081 SGD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.7138 SGD as an objective. Crossing it would then enable buyers to target 1.7374 SGD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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Additional analysis
Quotes
The GBP/SGD rating is 1.7052 SGD. The price has increased by +0.02% since the last closing and was between 1.7023 SGD and 1.7060 SGD. This implies that the price is at +0.17% from its lowest and at -0.05% from its highest.1.7023
1.7060
1.7052
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
Here is a more detailed summary of the historical variations registered by GBP/SGD:
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 GBP/SGD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 12 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact 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 | 1.6994 | 1.7012 | 1.7027 | 1.7052 | 1.7081 | 1.7138 | 1.7374 |
| Change (%) | -0.34% | -0.23% | -0.15% | - | +0.17% | +0.50% | +1.89% |
| Change | -0.0058 | -0.0040 | -0.0025 | - | +0.0029 | +0.0086 | +0.0322 |
| Level | Intermediate | Minor | Minor | - | Major | Minor | Major |
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 | 1.6929 | 1.6962 | 1.7005 | 1.7038 | 1.7081 | 1.7114 | 1.7157 |
| Camarilla | 1.7028 | 1.7035 | 1.7042 | 1.7049 | 1.7056 | 1.7063 | 1.7070 |
| Woodie | 1.6935 | 1.6965 | 1.7011 | 1.7041 | 1.7087 | 1.7117 | 1.7163 |
| Fibonacci | 1.6962 | 1.6991 | 1.7009 | 1.7038 | 1.7067 | 1.7085 | 1.7114 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6790 | 1.6839 | 1.6902 | 1.6951 | 1.7014 | 1.7063 | 1.7126 |
| Camarilla | 1.6934 | 1.6945 | 1.6955 | 1.6965 | 1.6975 | 1.6986 | 1.6996 |
| Woodie | 1.6797 | 1.6843 | 1.6909 | 1.6955 | 1.7021 | 1.7067 | 1.7133 |
| Fibonacci | 1.6839 | 1.6882 | 1.6908 | 1.6951 | 1.6994 | 1.7020 | 1.7063 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6528 | 1.6650 | 1.6850 | 1.6972 | 1.7172 | 1.7294 | 1.7494 |
| Camarilla | 1.6963 | 1.6992 | 1.7022 | 1.7051 | 1.7081 | 1.7110 | 1.7140 |
| Woodie | 1.6568 | 1.6670 | 1.6890 | 1.6992 | 1.7212 | 1.7314 | 1.7534 |
| Fibonacci | 1.6650 | 1.6773 | 1.6849 | 1.6972 | 1.7095 | 1.7171 | 1.7294 |
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): | 55.82 | |
| MACD (12,26,9): | 0.0004 | |
| Directional Movement: | 4.2663 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 1.7051 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7026 | |
| Elder Ray (13): | 0.0004 | |
| Super Trend (3,10): | 1.7019 | |
| Zig ZAG (10): | 1.7049 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 78.38 | |
| TEMA (21): | 1.7050 | |
| Williams %R (14): | -27.03 | |
| Chande Momentum Oscillator (20): | 0.0010 | |
| Repulse (5,40,3): | 0.0229 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0029 | |
| Courbe Coppock: | 0.12 |
| MA7: | 1.6992 | |
| MA20: | 1.6978 | |
| MA50: | 1.7003 | |
| MA100: | 1.6991 | |
| MAexp7: | 1.7050 | |
| MAexp20: | 1.7045 | |
| MAexp50: | 1.7033 | |
| MAexp100: | 1.7015 | |
| Price / MA7: | +0.35% | |
| Price / MA20: | +0.44% | |
| Price / MA50: | +0.29% | |
| Price / MA100: | +0.36% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.11% | |
| Price / MAexp100: | +0.22% |
Quotes :
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Real time data
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Forex