Londinia Opportunities Analyses - 04/29/2024 (GMT) GBP/CNH - 1H
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
- FX/Indices
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 9.0871 CNH
My targets
9.1248 CNH (+0.0270)
9.1748 CNH (+0.0770)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/CNH as long as the price remains well above 9.0871 CNH. The buyers' bullish objective is set at 9.1248 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 9.1748 CNH. If there is any crossing, the next objective would be the resistance located at 9.2548 CNH. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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Additional analysis
Quotes
The GBP/CNH price is 9.0978 CNH. On the day, this instrument gained +0.18% and was between 9.0707 CNH and 9.1043 CNH. This implies that the price is at +0.30% from its lowest and at -0.07% from its highest.9.0707
9.1043
9.0978
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 HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/CNH chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
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 several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 9.0465 | 9.0662 | 9.0871 | 9.0978 | 9.1068 | 9.1248 | 9.1748 |
| Change (%) | -0.56% | -0.35% | -0.12% | - | +0.10% | +0.30% | +0.85% |
| Change | -0.0513 | -0.0316 | -0.0107 | - | +0.0090 | +0.0270 | +0.0770 |
| Level | Major | Intermediate | Minor | - | Major | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.9901 | 9.0185 | 9.0501 | 9.0785 | 9.1101 | 9.1385 | 9.1701 |
| Camarilla | 9.0653 | 9.0708 | 9.0763 | 9.0818 | 9.0873 | 9.0928 | 9.0983 |
| Woodie | 8.9918 | 9.0193 | 9.0518 | 9.0793 | 9.1118 | 9.1393 | 9.1718 |
| Fibonacci | 9.0185 | 9.0414 | 9.0556 | 9.0785 | 9.1014 | 9.1156 | 9.1385 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.7775 | 8.8483 | 8.9651 | 9.0359 | 9.1527 | 9.2235 | 9.3403 |
| Camarilla | 9.0302 | 9.0474 | 9.0646 | 9.0818 | 9.0990 | 9.1162 | 9.1334 |
| Woodie | 8.8004 | 8.8598 | 8.9880 | 9.0474 | 9.1756 | 9.2350 | 9.3632 |
| Fibonacci | 8.8483 | 8.9200 | 8.9643 | 9.0359 | 9.1076 | 9.1519 | 9.2235 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.8960 | 8.9929 | 9.0781 | 9.1750 | 9.2602 | 9.3571 | 9.4423 |
| Camarilla | 9.1132 | 9.1299 | 9.1466 | 9.1633 | 9.1800 | 9.1967 | 9.2134 |
| Woodie | 8.8902 | 8.9900 | 9.0723 | 9.1721 | 9.2544 | 9.3542 | 9.4365 |
| Fibonacci | 8.9929 | 9.0625 | 9.1054 | 9.1750 | 9.2446 | 9.2875 | 9.3571 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.92 | |
| MACD (12,26,9): | 0.0024 | |
| Directional Movement: | 6.6987 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 9.0915 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.0998 | |
| Elder Ray (13): | 0.0048 | |
| Super Trend (3,10): | 9.0673 | |
| Zig ZAG (10): | 9.0970 | |
| VORTEX (21): | 1.0729 | |
| Stochastique (14,3,5): | 62.78 | |
| TEMA (21): | 9.0910 | |
| Williams %R (14): | -22.33 | |
| Chande Momentum Oscillator (20): | 0.0019 | |
| Repulse (5,40,3): | 0.0946 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0034 | |
| Courbe Coppock: | 0.03 |
| MA7: | 9.0404 | |
| MA20: | 9.0803 | |
| MA50: | 9.1286 | |
| MA100: | 9.1137 | |
| MAexp7: | 9.0909 | |
| MAexp20: | 9.0883 | |
| MAexp50: | 9.0812 | |
| MAexp100: | 9.0661 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | +0.19% | |
| Price / MA50: | -0.34% | |
| Price / MA100: | -0.17% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.35% |
Quotes :
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Real time data
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Forex