CHF/CNH - Daily - Technical analysis published on 07/06/2023 (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
61%
6%
33%
My opinion
Bullish above 7.84738 CNH
My targets
8.23458 CNH (+0.15484)
8.35613 CNH (+0.27639)
My analysis
The bullish trend is currently very strong on CHF/CNH. As long as the price remains above the support at 7.84738 CNH, you could try to benefit from the boom. The first bullish objective is located at 8.23458 CNH. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 8.35613 CNH as an objective. Crossing it would then enable buyers to target 8.57464 CNH. 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CHF/CNH rating 8.07974 CNH. The price is lower by -0.01% since the last closing and was between 8.07142 CNH and 8.08559 CNH. This implies that the price is at +0.10% from its lowest and at -0.07% from its highest.8.07142
8.08559
8.07974
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
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 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
A technical analysis in Daily of this CHF/CNH chart shows a strongly bullish trend. 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, 11 technical indicators on 18 studied are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 7.39549 | 7.70000 | 7.84738 | 8.07974 | 8.08820 |
| Change (%) | -8.47% | -4.70% | -2.88% | - | +0.10% |
| Change | -0.68425 | -0.37974 | -0.23236 | - | +0.00846 |
| Level | Intermediate | Major | Minor | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.01771 | 8.03525 | 8.05781 | 8.07535 | 8.09791 | 8.11545 | 8.13801 |
| Camarilla | 8.06934 | 8.07302 | 8.07669 | 8.08037 | 8.08405 | 8.08772 | 8.09140 |
| Woodie | 8.02022 | 8.03651 | 8.06032 | 8.07661 | 8.10042 | 8.11671 | 8.14052 |
| Fibonacci | 8.03525 | 8.05057 | 8.06003 | 8.07535 | 8.09067 | 8.10013 | 8.11545 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.96323 | 8.00302 | 8.05803 | 8.09782 | 8.15283 | 8.19262 | 8.24763 |
| Camarilla | 8.08696 | 8.09565 | 8.10434 | 8.11303 | 8.12172 | 8.13041 | 8.13910 |
| Woodie | 7.97083 | 8.00683 | 8.06563 | 8.10163 | 8.16043 | 8.19643 | 8.25523 |
| Fibonacci | 8.00302 | 8.03924 | 8.06161 | 8.09782 | 8.13404 | 8.15641 | 8.19262 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.55446 | 7.67601 | 7.89452 | 8.01607 | 8.23458 | 8.35613 | 8.57464 |
| Camarilla | 8.01951 | 8.05069 | 8.08186 | 8.11303 | 8.14420 | 8.17537 | 8.20655 |
| Woodie | 7.60294 | 7.70025 | 7.94300 | 8.04031 | 8.28306 | 8.38037 | 8.62312 |
| Fibonacci | 7.67601 | 7.80591 | 7.88617 | 8.01607 | 8.14597 | 8.22623 | 8.35613 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 65.86 | |
| MACD (12,26,9): | 0.0609 | |
| Directional Movement: | 14.97666 | |
| AROON (14): | 71.42857 | |
| DEMA (21): | 8.10812 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.13077 | |
| Elder Ray (13): | 0.02261 | |
| Super Trend (3,10): | 7.94177 | |
| Zig ZAG (10): | 8.07828 | |
| VORTEX (21): | 1.1959 | |
| Stochastique (14,3,5): | 66.59 | |
| TEMA (21): | 8.11443 | |
| Williams %R (14): | -34.75 | |
| Chande Momentum Oscillator (20): | 0.07676 | |
| Repulse (5,40,3): | 0.0184 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1192 | |
| Courbe Coppock: | 3.12 |
| MA7: | 8.08477 | |
| MA20: | 8.02615 | |
| MA50: | 7.89752 | |
| MA100: | 7.71459 | |
| MAexp7: | 8.07656 | |
| MAexp20: | 8.02490 | |
| MAexp50: | 7.90769 | |
| MAexp100: | 7.76534 | |
| Price / MA7: | -0.06% | |
| Price / MA20: | +0.67% | |
| Price / MA50: | +2.31% | |
| Price / MA100: | +4.73% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.68% | |
| Price / MAexp50: | +2.18% | |
| Price / MAexp100: | +4.05% |
Quotes :
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Real time data
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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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