CAD/SGD - 1H - Technical analysis published on 05/08/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 0.9905 SGD
My targets
0.9833 SGD (-0.0032)
0.9744 SGD (-0.0121)
My analysis
Has the basic bearish 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 bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.9905 SGD remains possible. It is advisable to trade CAD/SGD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.9905 SGD. The next bearish objective for sellers is set at 0.9833 SGD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.9744 SGD. In case of crossing, the next objective would be the support located at 0.9680 SGD. PS: if there is a bullish break in the resistance located at 0.9905 SGD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
2.3
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Additional analysis
Quotes
The CAD/SGD rating is 0.9865 SGD. The price registered a decrease of -0.01% on the session with the lowest point at 0.9855 SGD and the highest point at 0.9868 SGD. The deviation from the price is +0.10% for the low point and -0.03% for the high point.0.9855
0.9868
0.9865
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
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 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/SGD chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
The Central Indicators scanner found no further results concerning independent technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.9744 | 0.9833 | 0.9858 | 0.9865 | 0.9869 | 0.9905 | 0.9925 |
| Change (%) | -1.23% | -0.32% | -0.07% | - | +0.04% | +0.41% | +0.61% |
| Change | -0.0121 | -0.0032 | -0.0007 | - | +0.0004 | +0.0040 | +0.0060 |
| Level | Intermediate | Minor | Intermediate | - | Major | 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 | 0.9818 | 0.9839 | 0.9853 | 0.9874 | 0.9888 | 0.9909 | 0.9923 |
| Camarilla | 0.9856 | 0.9860 | 0.9863 | 0.9866 | 0.9869 | 0.9872 | 0.9876 |
| Woodie | 0.9814 | 0.9837 | 0.9849 | 0.9872 | 0.9884 | 0.9907 | 0.9919 |
| Fibonacci | 0.9839 | 0.9853 | 0.9861 | 0.9874 | 0.9888 | 0.9896 | 0.9909 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9686 | 0.9772 | 0.9816 | 0.9902 | 0.9946 | 1.0032 | 1.0076 |
| Camarilla | 0.9824 | 0.9836 | 0.9848 | 0.9860 | 0.9872 | 0.9884 | 0.9896 |
| Woodie | 0.9665 | 0.9762 | 0.9795 | 0.9892 | 0.9925 | 1.0022 | 1.0055 |
| Fibonacci | 0.9772 | 0.9822 | 0.9852 | 0.9902 | 0.9952 | 0.9982 | 1.0032 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9714 | 0.9785 | 0.9847 | 0.9918 | 0.9980 | 1.0051 | 1.0113 |
| Camarilla | 0.9872 | 0.9885 | 0.9897 | 0.9909 | 0.9921 | 0.9933 | 0.9946 |
| Woodie | 0.9710 | 0.9783 | 0.9843 | 0.9916 | 0.9976 | 1.0049 | 1.0109 |
| Fibonacci | 0.9785 | 0.9836 | 0.9867 | 0.9918 | 0.9969 | 1.0000 | 1.0051 |
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): | 47.07 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | -9.9281 | |
| AROON (14): | -35.7143 | |
| DEMA (21): | 0.9859 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.9855 | |
| Elder Ray (13): | 0.0001 | |
| Super Trend (3,10): | 0.9875 | |
| Zig ZAG (10): | 0.9865 | |
| VORTEX (21): | 0.9652 | |
| Stochastique (14,3,5): | 58.42 | |
| TEMA (21): | 0.9858 | |
| Williams %R (14): | -23.08 | |
| Chande Momentum Oscillator (20): | 0.0001 | |
| Repulse (5,40,3): | 0.0731 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0081 | |
| Courbe Coppock: | 0.09 |
| MA7: | 0.9886 | |
| MA20: | 0.9906 | |
| MA50: | 0.9911 | |
| MA100: | 0.9937 | |
| MAexp7: | 0.9862 | |
| MAexp20: | 0.9865 | |
| MAexp50: | 0.9873 | |
| MAexp100: | 0.9883 | |
| Price / MA7: | -0.21% | |
| Price / MA20: | -0.41% | |
| Price / MA50: | -0.46% | |
| Price / MA100: | -0.72% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | -0.08% | |
| Price / MAexp100: | -0.18% |
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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