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CAD/CNH
CAD CNH
- CNH (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: CADCNH
ISIN:

CAD/CNH - 1H - Technical analysis published on 05/16/2023 (GMT)

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Londinia
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  • Timeframe : 1H
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 5.18485 CNH
My targets
5.23963 CNH (+0.03080)
5.27970 CNH (+0.07087)
My analysis
CAD/CNH is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 5.18485 CNH. The next resistance located at 5.23963 CNH is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 5.27970 CNH. After this resistance, buyers could then target 5.33866 CNH. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

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
8.6

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Londinia
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The CAD/CNH price is 5.20883 CNH. On the day, this instrument gained +0.76% and was between 5.16608 CNH and 5.20927 CNH. This implies that the price is at +0.83% from its lowest and at -0.01% from its highest.

5.16608
5.20927
5.20883

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of CAD/CNH in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly


Pivot points : price is over resistance 2

Type : Neutral

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:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Central Candlesticks

Long white line

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 5.15090 5.16475 5.18485 5.20883 5.27970 5.33866 5.41571
Change (%) -1.11% -0.85% -0.46% - +1.36% +2.49% +3.97%
Change -0.05793 -0.04408 -0.02398 - +0.07087 +0.12983 +0.20688
Level Intermediate Major Major - Intermediate Major Major



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard5.113835.125795.147795.159755.181755.193715.21571
Camarilla5.160445.163555.166675.169785.172895.176015.17912
Woodie5.118845.128305.152805.162265.186765.196225.22072
Fibonacci5.125795.138775.146785.159755.172735.180745.19371


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard5.066055.102885.123915.160745.181775.218605.23963
Camarilla5.129035.134335.139645.144945.150245.155555.16085
Woodie5.058155.098935.116015.156795.173875.214655.23173
Fibonacci5.102885.124985.138645.160745.182845.196505.21860


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard4.989045.030745.071215.112915.153385.195085.23555
Camarilla5.089075.096615.104145.111675.119205.126745.13427
Woodie4.988425.030435.070595.112605.152765.194775.23493
Fibonacci5.030745.062135.081525.112915.144305.163695.19508

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): 79.49
MACD (12,26,9): 0.0080
Directional Movement: 39.85876
AROON (14): 85.71429
DEMA (21): 5.18591
Parabolic SAR (0,02-0,02-0,2): 5.17695
Elder Ray (13): 0.01217
Super Trend (3,10): 5.17248
Zig ZAG (10): 5.19905
VORTEX (21): 1.2228
Stochastique (14,3,5): 74.68
TEMA (21): 5.19036
Williams %R (14): -9.41
Chande Momentum Oscillator (20): 0.03158
Repulse (5,40,3): 0.4456
ROCnROLL: 1
TRIX (15,9): 0.0187
Courbe Coppock: 0.64
MA7: 5.17305
MA20: 5.13078
MA50: 5.09233
MA100: 5.08565
MAexp7: 5.18567
MAexp20: 5.17619
MAexp50: 5.16757
MAexp100: 5.16395
Price / MA7: +0.69%
Price / MA20: +1.52%
Price / MA50: +2.29%
Price / MA100: +2.42%
Price / MAexp7: +0.45%
Price / MAexp20: +0.63%
Price / MAexp50: +0.80%
Price / MAexp100: +0.87%

Quotes : - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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Londinia
Londinia AI

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