CAD/CNH - 1H - Technical analysis published on 02/07/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 5.06703 CNH
My targets
5.05000 CNH (-0.00969)
5.03636 CNH (-0.02333)
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 5.06703 CNH remains possible. It is advisable to trade CAD/CNH with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 5.06703 CNH. The next bearish objective for sellers is set at 5.05000 CNH. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 5.03636 CNH. In case of crossing, the next objective would be the support located at 5.02727 CNH. PS: if there is a bullish break in the resistance located at 5.06703 CNH 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
1.6
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Additional analysis
Quotes
The CAD/CNH rating is 5.05969 CNH. The price registered an increase of +0.00% on the session and was between 5.05096 CNH and 5.06476 CNH. This implies that the price is at +0.17% from its lowest and at -0.10% from its highest.5.05096
5.06476
5.05969
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 LOW record (5 years)
Type : Bearish
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/CNH indicates that the overall trend is bearish. 67.86% 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 market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bullish signal.
Other results related to technical indicators were also found by the Central Indicators scanner:
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 5.02727 | 5.03636 | 5.05000 | 5.05969 | 5.06703 | 5.08050 | 5.09074 |
| Change (%) | -0.64% | -0.46% | -0.19% | - | +0.15% | +0.41% | +0.61% |
| Change | -0.03242 | -0.02333 | -0.00969 | - | +0.00734 | +0.02081 | +0.03105 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.99451 | 5.02222 | 5.04096 | 5.06867 | 5.08741 | 5.11512 | 5.13386 |
| Camarilla | 5.04693 | 5.05118 | 5.05544 | 5.05970 | 5.06396 | 5.06822 | 5.07247 |
| Woodie | 4.99003 | 5.01998 | 5.03648 | 5.06643 | 5.08293 | 5.11288 | 5.12938 |
| Fibonacci | 5.02222 | 5.03996 | 5.05093 | 5.06867 | 5.08641 | 5.09738 | 5.11512 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.96959 | 4.99444 | 5.03751 | 5.06236 | 5.10543 | 5.13028 | 5.17335 |
| Camarilla | 5.06189 | 5.06812 | 5.07434 | 5.08057 | 5.08680 | 5.09302 | 5.09925 |
| Woodie | 4.97869 | 4.99900 | 5.04661 | 5.06692 | 5.11453 | 5.13484 | 5.18245 |
| Fibonacci | 4.99444 | 5.02039 | 5.03642 | 5.06236 | 5.08831 | 5.10434 | 5.13028 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.89211 | 4.94702 | 5.01176 | 5.06667 | 5.13141 | 5.18632 | 5.25106 |
| Camarilla | 5.04361 | 5.05457 | 5.06554 | 5.07651 | 5.08748 | 5.09845 | 5.10941 |
| Woodie | 4.89704 | 4.94948 | 5.01669 | 5.06913 | 5.13634 | 5.18878 | 5.25599 |
| Fibonacci | 4.94702 | 4.99272 | 5.02096 | 5.06667 | 5.11237 | 5.14061 | 5.18632 |
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): | 49.41 | |
| MACD (12,26,9): | -0.0018 | |
| Directional Movement: | -4.85269 | |
| AROON (14): | 21.42857 | |
| DEMA (21): | 5.05811 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.06572 | |
| Elder Ray (13): | 0.00092 | |
| Super Trend (3,10): | 5.07285 | |
| Zig ZAG (10): | 5.06090 | |
| VORTEX (21): | 0.9734 | |
| Stochastique (14,3,5): | 57.77 | |
| TEMA (21): | 5.05704 | |
| Williams %R (14): | -41.27 | |
| Chande Momentum Oscillator (20): | -0.00289 | |
| Repulse (5,40,3): | 0.0034 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0063 | |
| Courbe Coppock: | 0.02 |
| MA7: | 5.06330 | |
| MA20: | 5.05237 | |
| MA50: | 5.09685 | |
| MA100: | 5.19372 | |
| MAexp7: | 5.05894 | |
| MAexp20: | 5.06062 | |
| MAexp50: | 5.06249 | |
| MAexp100: | 5.06255 | |
| Price / MA7: | -0.07% | |
| Price / MA20: | +0.14% | |
| Price / MA50: | -0.73% | |
| Price / MA100: | -2.58% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | -0.06% |
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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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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