CAD/MXN

- MXN (-)

- Real time data - Forex

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Change:	-
Volume:	-

Low:	-
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High / Low range:	-

Type:	Forex
Ticker:	CADMXN
ISIN:

CAD/MXN - 1H - Technical analysis published on 01/17/2024 (GMT)

Londinia

I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!

Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

11%

50%

39%

My opinion

Bullish above 12.707 MXN

My targets

12.779 MXN (+0.024)

12.819 MXN (+0.064)

My analysis

Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 12.707 MXN remains possible. It is advisable to trade CAD/MXN with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 12.707 MXN. The next bullish objective for buyers is set at 12.779 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12.819 MXN. If there is any crossing, the next objective would be the resistance located at 12.985 MXN. PS: if there is a bearish break in the support located at 12.707 MXN we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.

Force

1.3

Comment on the analysis

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 CAD/MXN price is 12.755 MXN. On the day, this instrument lost -0.04% and was between 12.741 MXN and 12.848 MXN. This implies that the price is at +0.11% from its lowest and at -0.72% from its highest.

12.741

12.848

12.755

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

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 1H chart of CAD/MXN indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish 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.

The probability of a further decline is low given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	12.599	12.631	12.649	12.755	12.757	12.779	12.819
Change (%)	-1.22%	-0.97%	-0.83%	-	+0.02%	+0.19%	+0.50%
Change	-0.156	-0.124	-0.106	-	+0.002	+0.024	+0.064
Level	Intermediate	Minor	Minor	-	Intermediate	Intermediate	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	12.396	12.477	12.618	12.699	12.840	12.921	13.062
Camarilla	12.699	12.719	12.740	12.760	12.780	12.801	12.821
Woodie	12.427	12.492	12.649	12.714	12.871	12.936	13.093
Fibonacci	12.477	12.562	12.614	12.699	12.784	12.836	12.921

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	12.295	12.423	12.501	12.629	12.707	12.835	12.913
Camarilla	12.521	12.540	12.559	12.578	12.597	12.616	12.635
Woodie	12.269	12.411	12.475	12.617	12.681	12.823	12.887
Fibonacci	12.423	12.502	12.551	12.629	12.708	12.757	12.835

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	12.426	12.564	12.685	12.823	12.944	13.082	13.203
Camarilla	12.736	12.760	12.783	12.807	12.831	12.855	12.878
Woodie	12.419	12.560	12.678	12.819	12.937	13.078	13.196
Fibonacci	12.564	12.663	12.724	12.823	12.922	12.983	13.082

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):	44.72
MACD (12,26,9):	0.0160
Directional Movement:	-4.561
AROON (14):	-35.714
DEMA (21):	12.807
Parabolic SAR (0,02-0,02-0,2):	12.841
Elder Ray (13):	-0.033
Super Trend (3,10):	12.847
Zig ZAG (10):	12.747
VORTEX (21):	0.9950
Stochastique (14,3,5):	13.32
TEMA (21):	12.790
Williams %R (14):	-94.39
Chande Momentum Oscillator (20):	-0.046
Repulse (5,40,3):	-0.3260
ROCnROLL:	-1
TRIX (15,9):	0.0360
Courbe Coppock:	0.13

MA7:	12.667
MA20:	12.738
MA50:	12.722
MA100:	12.835
MAexp7:	12.778
MAexp20:	12.778
MAexp50:	12.728
MAexp100:	12.691
Price / MA7:	+0.69%
Price / MA20:	+0.13%
Price / MA50:	+0.26%
Price / MA100:	-0.62%
Price / MAexp7:	-0.18%
Price / MAexp20:	-0.18%
Price / MAexp50:	+0.21%
Price / MAexp100:	+0.50%

Quotes : - Real time data - Forex

News

Don't forget to follow the news on CAD/MXN. At the time of publication of this analysis, the latest news was as follows:

FX Closing Bell April 25, Trump’s Tough Tariff Talk Awakens CAD & MXN Bears

This member declared not having a position on this financial instrument or a related financial instrument.

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Londinia AI

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