EUR/CNH - Daily - Technical analysis published on 04/19/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 7.51900 CNH
My targets
7.65975 CNH (+0.10824)
7.84305 CNH (+0.29154)
My analysis
The bullish trend is currently very strong on EUR/CNH. As long as the price remains above the support at 7.51900 CNH, you could try to benefit from the boom. The first bullish objective is located at 7.65975 CNH. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 7.84305 CNH as an objective. Crossing it would then enable buyers to target 8.00669 CNH. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/CNH rating 7.55151 CNH. The price has increased by +0.00% since the last closing and was traded between 7.54218 CNH and 7.57267 CNH over the period. The price is currently at +0.12% from its lowest and -0.28% from its highest.7.54218
7.57267
7.55151
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
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
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
A technical analysis in Daily of this EUR/CNH chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
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 : Daily
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.20429 | 7.29115 | 7.51900 | 7.55151 | 7.84305 | 8.00669 | 8.30641 |
| Change (%) | -4.60% | -3.45% | -0.43% | - | +3.86% | +6.03% | +10.00% |
| Change | -0.34722 | -0.26036 | -0.03251 | - | +0.29154 | +0.45518 | +0.75490 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | Minor | Major |
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 | 7.47092 | 7.48879 | 7.52021 | 7.53808 | 7.56950 | 7.58737 | 7.61879 |
| Camarilla | 7.53807 | 7.54258 | 7.54710 | 7.55162 | 7.55614 | 7.56066 | 7.56518 |
| Woodie | 7.47769 | 7.49218 | 7.52698 | 7.54147 | 7.57627 | 7.59076 | 7.62556 |
| Fibonacci | 7.48879 | 7.50762 | 7.51926 | 7.53808 | 7.55691 | 7.56855 | 7.58737 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.34869 | 7.40811 | 7.48372 | 7.54314 | 7.61875 | 7.67817 | 7.75378 |
| Camarilla | 7.52221 | 7.53459 | 7.54696 | 7.55934 | 7.57172 | 7.58410 | 7.59647 |
| Woodie | 7.35680 | 7.41216 | 7.49183 | 7.54719 | 7.62686 | 7.68222 | 7.76189 |
| Fibonacci | 7.40811 | 7.45969 | 7.49156 | 7.54314 | 7.59472 | 7.62659 | 7.67817 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.05244 | 7.15905 | 7.30279 | 7.40940 | 7.55314 | 7.65975 | 7.80349 |
| Camarilla | 7.37769 | 7.40064 | 7.42359 | 7.44654 | 7.46949 | 7.49244 | 7.51539 |
| Woodie | 7.07102 | 7.16833 | 7.32137 | 7.41868 | 7.57172 | 7.66903 | 7.82207 |
| Fibonacci | 7.15905 | 7.25468 | 7.31376 | 7.40940 | 7.50503 | 7.56411 | 7.65975 |
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): | 59.16 | |
| MACD (12,26,9): | 0.0430 | |
| Directional Movement: | 11.26530 | |
| AROON (14): | 57.14286 | |
| DEMA (21): | 7.55950 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.60063 | |
| Elder Ray (13): | 0.03224 | |
| Super Trend (3,10): | 7.42494 | |
| Zig ZAG (10): | 7.55340 | |
| VORTEX (21): | 1.1693 | |
| Stochastique (14,3,5): | 64.24 | |
| TEMA (21): | 7.57350 | |
| Williams %R (14): | -28.29 | |
| Chande Momentum Oscillator (20): | 0.05474 | |
| Repulse (5,40,3): | 0.2606 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0853 | |
| Courbe Coppock: | 2.28 |
| MA7: | 7.55195 | |
| MA20: | 7.50113 | |
| MA50: | 7.41117 | |
| MA100: | 7.38211 | |
| MAexp7: | 7.54317 | |
| MAexp20: | 7.50237 | |
| MAexp50: | 7.43785 | |
| MAexp100: | 7.37289 | |
| Price / MA7: | -0.01% | |
| Price / MA20: | +0.67% | |
| Price / MA50: | +1.89% | |
| Price / MA100: | +2.29% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.65% | |
| Price / MAexp50: | +1.53% | |
| Price / MAexp100: | +2.42% |
Quotes :
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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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