CHF/CNH - Daily - Technical analysis published on 05/30/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
6%
44%
My opinion
Bullish above 7.70000 CNH
My targets
7.88267 CNH (+0.04755)
8.02703 CNH (+0.19191)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CHF/CNH as long as the price remains well above 7.70000 CNH. The buyers' bullish objective is set at 7.88267 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.02703 CNH. If there is any crossing, the next objective would be the resistance located at 8.22196 CNH. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHF/CNH price is 7.83512 CNH. The price has increased by +0.00% since the last closing and was traded between 7.83298 CNH and 7.84345 CNH over the period. The price is currently at +0.03% from its lowest and -0.11% from its highest.7.83298
7.84345
7.83512
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CHF/CNH:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CHF/CNH indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 7.39549 | 7.63494 | 7.70000 | 7.83512 | 7.83645 |
| Change (%) | -5.61% | -2.55% | -1.72% | - | +0.02% |
| Change | -0.43963 | -0.20018 | -0.13512 | - | +0.00133 |
| Level | Intermediate | Minor | Major | - | Intermediate |
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 | 7.76426 | 7.78388 | 7.80967 | 7.82929 | 7.85508 | 7.87470 | 7.90049 |
| Camarilla | 7.82297 | 7.82714 | 7.83130 | 7.83546 | 7.83962 | 7.84379 | 7.84795 |
| Woodie | 7.76735 | 7.78542 | 7.81276 | 7.83083 | 7.85817 | 7.87624 | 7.90358 |
| Fibonacci | 7.78388 | 7.80123 | 7.81194 | 7.82929 | 7.84664 | 7.85735 | 7.87470 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.68288 | 7.73520 | 7.77034 | 7.82266 | 7.85780 | 7.91012 | 7.94526 |
| Camarilla | 7.78143 | 7.78945 | 7.79746 | 7.80548 | 7.81350 | 7.82151 | 7.82953 |
| Woodie | 7.67429 | 7.73091 | 7.76175 | 7.81837 | 7.84921 | 7.90583 | 7.93667 |
| Fibonacci | 7.73520 | 7.76861 | 7.78925 | 7.82266 | 7.85607 | 7.87671 | 7.91012 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.20409 | 7.34845 | 7.54338 | 7.68774 | 7.88267 | 8.02703 | 8.22196 |
| Camarilla | 7.64500 | 7.67610 | 7.70720 | 7.73830 | 7.76940 | 7.80050 | 7.83161 |
| Woodie | 7.22937 | 7.36109 | 7.56866 | 7.70038 | 7.90795 | 8.03967 | 8.24724 |
| Fibonacci | 7.34845 | 7.47806 | 7.55814 | 7.68774 | 7.81735 | 7.89743 | 8.02703 |
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): | 59.98 | |
| MACD (12,26,9): | 0.0347 | |
| Directional Movement: | 5.93049 | |
| AROON (14): | 35.71429 | |
| DEMA (21): | 7.84877 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.77306 | |
| Elder Ray (13): | 0.02405 | |
| Super Trend (3,10): | 7.69900 | |
| Zig ZAG (10): | 7.83568 | |
| VORTEX (21): | 1.0797 | |
| Stochastique (14,3,5): | 59.50 | |
| TEMA (21): | 7.83554 | |
| Williams %R (14): | -32.48 | |
| Chande Momentum Oscillator (20): | 0.06927 | |
| Repulse (5,40,3): | 0.0752 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0731 | |
| Courbe Coppock: | 1.09 |
| MA7: | 7.83011 | |
| MA20: | 7.80542 | |
| MA50: | 7.70242 | |
| MA100: | 7.54557 | |
| MAexp7: | 7.82508 | |
| MAexp20: | 7.79799 | |
| MAexp50: | 7.71126 | |
| MAexp100: | 7.60134 | |
| Price / MA7: | +0.06% | |
| Price / MA20: | +0.38% | |
| Price / MA50: | +1.72% | |
| Price / MA100: | +3.84% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | +0.48% | |
| Price / MAexp50: | +1.61% | |
| Price / MAexp100: | +3.08% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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…
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