CAD/HKD - 1H - Technical analysis published on 03/25/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
44%
22%
33%
My opinion
Bearish under 5.7719 HKD
My targets
5.7425 HKD (-0.0067)
5.6960 HKD (-0.0532)
My analysis
CAD/HKD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 5.7719 HKD. The next support located at 5.7425 HKD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 5.6960 HKD. Below this support, sellers could then target 5.6553 HKD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.4
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Additional analysis
Quotes
CAD/HKD rating 5.7492 HKD. On the day, this instrument lost -0.01% and was traded between 5.7444 HKD and 5.7566 HKD over the period. The price is currently at +0.08% from its lowest and -0.13% from its highest.5.7444
5.7566
5.7492
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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 HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
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 CAD/HKD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
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 support
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.6553 | 5.6960 | 5.7425 | 5.7492 | 5.7719 | 5.7961 | 5.8152 |
| Change (%) | -1.63% | -0.93% | -0.12% | - | +0.39% | +0.82% | +1.15% |
| Change | -0.0939 | -0.0532 | -0.0067 | - | +0.0227 | +0.0469 | +0.0660 |
| Level | Major | Minor | Major | - | Intermediate | 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 | 5.6942 | 5.7195 | 5.7345 | 5.7598 | 5.7748 | 5.8001 | 5.8151 |
| Camarilla | 5.7385 | 5.7422 | 5.7459 | 5.7496 | 5.7533 | 5.7570 | 5.7607 |
| Woodie | 5.6892 | 5.7169 | 5.7295 | 5.7572 | 5.7698 | 5.7975 | 5.8101 |
| Fibonacci | 5.7195 | 5.7349 | 5.7444 | 5.7598 | 5.7752 | 5.7847 | 5.8001 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.6585 | 5.7016 | 5.7256 | 5.7687 | 5.7927 | 5.8358 | 5.8598 |
| Camarilla | 5.7312 | 5.7373 | 5.7435 | 5.7496 | 5.7558 | 5.7619 | 5.7681 |
| Woodie | 5.6490 | 5.6968 | 5.7161 | 5.7639 | 5.7832 | 5.8310 | 5.8503 |
| Fibonacci | 5.7016 | 5.7272 | 5.7431 | 5.7687 | 5.7943 | 5.8102 | 5.8358 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.6339 | 5.6933 | 5.7313 | 5.7907 | 5.8287 | 5.8881 | 5.9261 |
| Camarilla | 5.7425 | 5.7514 | 5.7604 | 5.7693 | 5.7782 | 5.7872 | 5.7961 |
| Woodie | 5.6232 | 5.6880 | 5.7206 | 5.7854 | 5.8180 | 5.8828 | 5.9154 |
| Fibonacci | 5.6933 | 5.7305 | 5.7535 | 5.7907 | 5.8279 | 5.8509 | 5.8881 |
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): | 41.66 | |
| MACD (12,26,9): | -0.0043 | |
| Directional Movement: | -5.6258 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 5.7467 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.7453 | |
| Elder Ray (13): | -0.0005 | |
| Super Trend (3,10): | 5.7594 | |
| Zig ZAG (10): | 5.7504 | |
| VORTEX (21): | 0.9186 | |
| Stochastique (14,3,5): | 54.64 | |
| TEMA (21): | 5.7478 | |
| Williams %R (14): | -54.10 | |
| Chande Momentum Oscillator (20): | 0.0037 | |
| Repulse (5,40,3): | -0.0052 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0152 | |
| Courbe Coppock: | 0.08 |
| MA7: | 5.7722 | |
| MA20: | 5.7805 | |
| MA50: | 5.7936 | |
| MA100: | 5.7847 | |
| MAexp7: | 5.7507 | |
| MAexp20: | 5.7534 | |
| MAexp50: | 5.7624 | |
| MAexp100: | 5.7692 | |
| Price / MA7: | -0.40% | |
| Price / MA20: | -0.54% | |
| Price / MA50: | -0.77% | |
| Price / MA100: | -0.61% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.23% | |
| Price / MAexp100: | -0.35% |
Quotes :
-
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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