CAD/CNH - 1H - Technical analysis published on 04/04/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
44%
39%
My opinion
Bullish above 5.09004 CNH
My targets
5.12783 CNH (+0.01094)
5.18485 CNH (+0.06796)
My analysis
Has the basic bullish 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 bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 5.09004 CNH remains possible. It is advisable to trade CAD/CNH with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 5.09004 CNH. The next bullish objective for buyers is set at 5.12783 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 5.18485 CNH. If there is any crossing, the next objective would be the resistance located at 5.27970 CNH. PS: if there is a bearish break in the support located at 5.09004 CNH we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.6
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Additional analysis
Quotes
CAD/CNH rating 5.11689 CNH. The price has increased by +0.00% since the last closing and was traded between 5.11371 CNH and 5.13457 CNH over the period. The price is currently at +0.06% from its lowest and -0.34% from its highest.5.11371
5.13457
5.11689
Here is a more detailed summary of the historical variations registered by CAD/CNH:
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
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/CNH chart shows a bullish trend. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
In fact, only 8 technical indicators out of 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.05039 | 5.06566 | 5.09004 | 5.11689 | 5.12783 | 5.18485 | 5.27970 |
| Change (%) | -1.30% | -1.00% | -0.52% | - | +0.21% | +1.33% | +3.18% |
| Change | -0.06650 | -0.05123 | -0.02685 | - | +0.01094 | +0.06796 | +0.16281 |
| Level | Minor | Intermediate | Intermediate | - | Major | Major | Intermediate |
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 | 5.04969 | 5.06759 | 5.09220 | 5.11010 | 5.13471 | 5.15261 | 5.17722 |
| Camarilla | 5.10513 | 5.10903 | 5.11292 | 5.11682 | 5.12072 | 5.12461 | 5.12851 |
| Woodie | 5.05306 | 5.06927 | 5.09557 | 5.11178 | 5.13808 | 5.15429 | 5.18059 |
| Fibonacci | 5.06759 | 5.08383 | 5.09386 | 5.11010 | 5.12634 | 5.13637 | 5.15261 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.93288 | 4.96589 | 5.02401 | 5.05702 | 5.11514 | 5.14815 | 5.20627 |
| Camarilla | 5.05706 | 5.06541 | 5.07377 | 5.08212 | 5.09047 | 5.09883 | 5.10718 |
| Woodie | 4.94543 | 4.97217 | 5.03656 | 5.06330 | 5.12769 | 5.15443 | 5.21882 |
| Fibonacci | 4.96589 | 5.00071 | 5.02221 | 5.05702 | 5.09184 | 5.11334 | 5.14815 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.85640 | 4.91364 | 4.99788 | 5.05512 | 5.13936 | 5.19660 | 5.28084 |
| Camarilla | 5.04321 | 5.05618 | 5.06915 | 5.08212 | 5.09509 | 5.10806 | 5.12103 |
| Woodie | 4.86990 | 4.92039 | 5.01138 | 5.06187 | 5.15286 | 5.20335 | 5.29434 |
| Fibonacci | 4.91364 | 4.96769 | 5.00108 | 5.05512 | 5.10917 | 5.14256 | 5.19660 |
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): | 46.04 | |
| MACD (12,26,9): | 0.0028 | |
| Directional Movement: | -6.66533 | |
| AROON (14): | -42.85714 | |
| DEMA (21): | 5.12823 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.13432 | |
| Elder Ray (13): | -0.00798 | |
| Super Trend (3,10): | 5.11487 | |
| Zig ZAG (10): | 5.11735 | |
| VORTEX (21): | 0.9259 | |
| Stochastique (14,3,5): | 25.97 | |
| TEMA (21): | 5.12482 | |
| Williams %R (14): | -82.26 | |
| Chande Momentum Oscillator (20): | -0.00804 | |
| Repulse (5,40,3): | -0.1068 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0138 | |
| Courbe Coppock: | 0.12 |
| MA7: | 5.08349 | |
| MA20: | 5.03911 | |
| MA50: | 5.06717 | |
| MA100: | 5.11017 | |
| MAexp7: | 5.12328 | |
| MAexp20: | 5.12319 | |
| MAexp50: | 5.11295 | |
| MAexp100: | 5.09640 | |
| Price / MA7: | +0.66% | |
| Price / MA20: | +1.54% | |
| Price / MA50: | +0.98% | |
| Price / MA100: | +0.13% | |
| Price / MAexp7: | -0.13% | |
| Price / MAexp20: | -0.13% | |
| Price / MAexp50: | +0.07% | |
| Price / MAexp100: | +0.40% |
Quotes :
-
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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