CAD/CNH - 1H - Technical analysis published on 02/27/2023 (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:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 5.12179 CNH
My targets
5.13744 CNH (+0.00929)
5.15049 CNH (+0.02234)
My analysis
The bullish trend is currently very strong on CAD/CNH. As long as the price remains above the support at 5.12179 CNH, you could try to benefit from the boom. The first bullish objective is located at 5.13744 CNH. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 5.15049 CNH as an objective. Crossing it would then enable buyers to target 5.18485 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7
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Additional analysis
Quotes
The CAD/CNH rating is 5.12815 CNH. On the day, this instrument lost -0.01% with the lowest point at 5.12360 CNH and the highest point at 5.13617 CNH. The deviation from the price is +0.09% for the low point and -0.16% for the high point.5.12360
5.13617
5.12815
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
A study of price movements over other periods shows the following variations:
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 this 1H chart of CAD/CNH indicates that the overall trend is strongly bullish. 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
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 resistance of channel
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
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 | 5.09074 | 5.10374 | 5.12179 | 5.12815 | 5.12926 | 5.13744 | 5.15049 |
| Change (%) | -0.73% | -0.48% | -0.12% | - | +0.02% | +0.18% | +0.44% |
| Change | -0.03741 | -0.02441 | -0.00636 | - | +0.00111 | +0.00929 | +0.02234 |
| Level | Major | Intermediate | Minor | - | 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 | 5.08427 | 5.09474 | 5.11172 | 5.12219 | 5.13917 | 5.14964 | 5.16662 |
| Camarilla | 5.12116 | 5.12368 | 5.12619 | 5.12871 | 5.13123 | 5.13374 | 5.13626 |
| Woodie | 5.08754 | 5.09637 | 5.11499 | 5.12382 | 5.14244 | 5.15127 | 5.16989 |
| Fibonacci | 5.09474 | 5.10522 | 5.11170 | 5.12219 | 5.13267 | 5.13915 | 5.14964 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.05206 | 5.06896 | 5.09884 | 5.11574 | 5.14562 | 5.16252 | 5.19240 |
| Camarilla | 5.11585 | 5.12013 | 5.12442 | 5.12871 | 5.13300 | 5.13729 | 5.14158 |
| Woodie | 5.05854 | 5.07221 | 5.10532 | 5.11899 | 5.15210 | 5.16577 | 5.19888 |
| Fibonacci | 5.06896 | 5.08683 | 5.09787 | 5.11574 | 5.13361 | 5.14465 | 5.16252 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 56.10 | |
| MACD (12,26,9): | 0.0041 | |
| Directional Movement: | 6.83978 | |
| AROON (14): | 57.14286 | |
| DEMA (21): | 5.13179 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.12602 | |
| Elder Ray (13): | 0.00158 | |
| Super Trend (3,10): | 5.11270 | |
| Zig ZAG (10): | 5.12901 | |
| VORTEX (21): | 1.0582 | |
| Stochastique (14,3,5): | 71.08 | |
| TEMA (21): | 5.13155 | |
| Williams %R (14): | -44.23 | |
| Chande Momentum Oscillator (20): | 0.00640 | |
| Repulse (5,40,3): | -0.0542 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0129 | |
| Courbe Coppock: | 0.38 |
| MA7: | 5.10794 | |
| MA20: | 5.09160 | |
| MA50: | 5.08558 | |
| MA100: | 5.17812 | |
| MAexp7: | 5.12912 | |
| MAexp20: | 5.12598 | |
| MAexp50: | 5.11795 | |
| MAexp100: | 5.11185 | |
| Price / MA7: | +0.40% | |
| Price / MA20: | +0.72% | |
| Price / MA50: | +0.84% | |
| Price / MA100: | -0.97% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.20% | |
| Price / MAexp100: | +0.32% |
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.
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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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