CHF/MXN - 1H - Technical analysis published on 05/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
78%
6%
17%
My opinion
Bullish above 18.4893 MXN
My targets
18.6057 MXN (+0.0201)
18.6482 MXN (+0.0626)
My analysis
The strong short-term increase in CHF/MXN calls into question the currently slightly bearish basic trend. A trend reversal is likely. As long as the price remains above 18.4893 MXN, you could consider taking advantage of the short-term movement. The first bullish objective is located at 18.6057 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 18.6482 MXN as an objective. Crossing it would then enable buyers to target 18.7567 MXN. Caution, a return under 18.4893 MXN could jeopardize the reversal.
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
2.7
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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/MXN price is 18.5856 MXN. On the day, this instrument gained +0.48% with the lowest point at 18.4754 MXN and the highest point at 18.6113 MXN. The deviation from the price is +0.60% for the low point and -0.14% for the high point.18.4754
18.6113
18.5856
Here is a more detailed summary of the historical variations registered by CHF/MXN:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CHF/MXN in 1H shows an overall slightly bearish trend. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
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, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.0333 | 18.3835 | 18.4893 | 18.5856 | 18.6057 | 18.6482 | 18.7567 |
| Change (%) | -2.97% | -1.09% | -0.52% | - | +0.11% | +0.34% | +0.92% |
| Change | -0.5523 | -0.2021 | -0.0963 | - | +0.0201 | +0.0626 | +0.1711 |
| Level | Major | Minor | Intermediate | - | Minor | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.2127 | 18.3343 | 18.4156 | 18.5372 | 18.6185 | 18.7401 | 18.8214 |
| Camarilla | 18.4411 | 18.4597 | 18.4783 | 18.4969 | 18.5155 | 18.5341 | 18.5527 |
| Woodie | 18.1926 | 18.3242 | 18.3955 | 18.5271 | 18.5984 | 18.7300 | 18.8013 |
| Fibonacci | 18.3343 | 18.4118 | 18.4597 | 18.5372 | 18.6147 | 18.6626 | 18.7401 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.9871 | 18.2382 | 18.5029 | 18.7540 | 19.0187 | 19.2698 | 19.5345 |
| Camarilla | 18.6258 | 18.6730 | 18.7203 | 18.7676 | 18.8149 | 18.8622 | 18.9095 |
| Woodie | 17.9939 | 18.2416 | 18.5097 | 18.7574 | 19.0255 | 19.2732 | 19.5413 |
| Fibonacci | 18.2382 | 18.4352 | 18.5570 | 18.7540 | 18.9510 | 19.0728 | 19.2698 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.8492 | 16.9105 | 17.7803 | 18.8416 | 19.7114 | 20.7727 | 21.6425 |
| Camarilla | 18.1192 | 18.2962 | 18.4732 | 18.6502 | 18.8272 | 19.0042 | 19.1813 |
| Woodie | 15.7536 | 16.8626 | 17.6847 | 18.7937 | 19.6158 | 20.7248 | 21.5469 |
| Fibonacci | 16.9105 | 17.6482 | 18.1039 | 18.8416 | 19.5793 | 20.0350 | 20.7727 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 59.71 | |
| MACD (12,26,9): | -0.0124 | |
| Directional Movement: | 9.7115 | |
| AROON (14): | 85.7142 | |
| DEMA (21): | 18.5143 | |
| Parabolic SAR (0,02-0,02-0,2): | 18.4781 | |
| Elder Ray (13): | 0.0670 | |
| Super Trend (3,10): | 18.4771 | |
| Zig ZAG (10): | 18.6034 | |
| VORTEX (21): | 1.0310 | |
| Stochastique (14,3,5): | 74.22 | |
| TEMA (21): | 18.5293 | |
| Williams %R (14): | -4.63 | |
| Chande Momentum Oscillator (20): | 0.0868 | |
| Repulse (5,40,3): | 0.5058 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0204 | |
| Courbe Coppock: | 0.04 |
| MA7: | 18.6739 | |
| MA20: | 18.4990 | |
| MA50: | 18.7326 | |
| MA100: | 19.2518 | |
| MAexp7: | 18.5385 | |
| MAexp20: | 18.5367 | |
| MAexp50: | 18.5810 | |
| MAexp100: | 18.6354 | |
| Price / MA7: | -0.47% | |
| Price / MA20: | +0.47% | |
| Price / MA50: | -0.78% | |
| Price / MA100: | -3.46% | |
| Price / MAexp7: | +0.25% | |
| Price / MAexp20: | +0.26% | |
| Price / MAexp50: | +0.02% | |
| Price / MAexp100: | -0.27% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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