CHF/HKD - 1H - Technical analysis published on 02/23/2024 (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:
Strongly bearish
Underlying:
Neutral
Technical indicators
56%
17%
28%
My opinion
Bearish under 8.9033 HKD
My targets
8.8683 HKD (-0.0192)
8.8500 HKD (-0.0375)
My analysis
The strong short-term decrease of CHF/HKD should quickly allow the basic trend to become bearish. As long as the price remains below the resistance located at 8.9033 HKD, a sale could be considered. The first bearish objective is located at 8.8683 HKD. The bearish momentum would be boosted by a support break. Sellers could then target the support located at 8.8500 HKD. If there is any crossing, the next objective would be support 8.8283 HKD. Caution, if there is a return to above 8.9033 HKD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.
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
0.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHF/HKD rating is 8.8875 HKD. The price registered a decrease of -0.01% on the session with the lowest point at 8.8800 HKD and the highest point at 8.8911 HKD. The deviation from the price is +0.08% for the low point and -0.04% for the high point.8.8800
8.8911
8.8875
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 (5 years)
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
Technical
Technical analysis of this 1H chart of CHF/HKD indicates that the overall trend is not clearly defined. This indecision could turn into a bearish trend due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.8283 | 8.8500 | 8.8683 | 8.8875 | 8.8911 | 8.9033 | 8.9351 |
| Change (%) | -0.67% | -0.42% | -0.22% | - | +0.04% | +0.18% | +0.54% |
| Change | -0.0592 | -0.0375 | -0.0192 | - | +0.0036 | +0.0158 | +0.0476 |
| Level | Major | Intermediate | Minor | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.7765 | 8.8221 | 8.8551 | 8.9007 | 8.9337 | 8.9793 | 9.0123 |
| Camarilla | 8.8664 | 8.8736 | 8.8808 | 8.8880 | 8.8952 | 8.9024 | 8.9096 |
| Woodie | 8.7701 | 8.8190 | 8.8487 | 8.8976 | 8.9273 | 8.9762 | 9.0059 |
| Fibonacci | 8.8221 | 8.8522 | 8.8707 | 8.9007 | 8.9308 | 8.9493 | 8.9793 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.6356 | 8.7172 | 8.7979 | 8.8795 | 8.9602 | 9.0418 | 9.1225 |
| Camarilla | 8.8339 | 8.8488 | 8.8636 | 8.8785 | 8.8934 | 8.9083 | 8.9231 |
| Woodie | 8.6351 | 8.7170 | 8.7974 | 8.8793 | 8.9597 | 9.0416 | 9.1220 |
| Fibonacci | 8.7172 | 8.7792 | 8.8175 | 8.8795 | 8.9415 | 8.9798 | 9.0418 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.5719 | 8.7666 | 8.9156 | 9.1103 | 9.2593 | 9.4540 | 9.6030 |
| Camarilla | 8.9700 | 9.0015 | 9.0330 | 9.0645 | 9.0960 | 9.1275 | 9.1590 |
| Woodie | 8.5490 | 8.7552 | 8.8927 | 9.0989 | 9.2364 | 9.4426 | 9.5801 |
| Fibonacci | 8.7666 | 8.8979 | 8.9790 | 9.1103 | 9.2416 | 9.3227 | 9.4540 |
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): | 47.88 | |
| MACD (12,26,9): | -0.0024 | |
| Directional Movement: | -4.0540 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 8.8852 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.8717 | |
| Elder Ray (13): | -0.0008 | |
| Super Trend (3,10): | 8.9102 | |
| Zig ZAG (10): | 8.8866 | |
| VORTEX (21): | 0.8807 | |
| Stochastique (14,3,5): | 69.37 | |
| TEMA (21): | 8.8817 | |
| Williams %R (14): | -19.74 | |
| Chande Momentum Oscillator (20): | 0.0143 | |
| Repulse (5,40,3): | 0.0261 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0043 | |
| Courbe Coppock: | 0.20 |
| MA7: | 8.8806 | |
| MA20: | 8.9445 | |
| MA50: | 9.0451 | |
| MA100: | 8.9050 | |
| MAexp7: | 8.8857 | |
| MAexp20: | 8.8880 | |
| MAexp50: | 8.8878 | |
| MAexp100: | 8.8846 | |
| Price / MA7: | +0.08% | |
| Price / MA20: | -0.64% | |
| Price / MA50: | -1.74% | |
| Price / MA100: | -0.20% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | +0.00% | |
| Price / MAexp100: | +0.03% |
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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