CAD/CNH - Daily - Technical analysis published on 05/22/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 5.18485 CNH
My targets
5.27970 CNH (+0.07215)
5.33866 CNH (+0.13111)
My analysis
The bullish trend is currently very strong on CAD/CNH. As long as the price remains above the support at 5.18485 CNH, you could try to benefit from the boom. The first bullish objective is located at 5.27970 CNH. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 5.33866 CNH as an objective. Crossing it would then enable buyers to target 5.41571 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, 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
7.9
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Additional analysis
Quotes
The CAD/CNH rating is 5.20755 CNH. The price has increased by +0.00% since the last closing with the lowest point at 5.20074 CNH and the highest point at 5.21042 CNH. The deviation from the price is +0.13% for the low point and -0.06% for the high point.5.20074
5.21042
5.20755
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 HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
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
A technical analysis in Daily of this CAD/CNH chart shows a strongly bullish trend. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.07905 | 5.15090 | 5.18485 | 5.20755 | 5.27970 | 5.33866 | 5.41571 |
| Change (%) | -2.47% | -1.09% | -0.44% | - | +1.39% | +2.52% | +4.00% |
| Change | -0.12850 | -0.05665 | -0.02270 | - | +0.07215 | +0.13111 | +0.20816 |
| Level | Intermediate | Major | Major | - | Intermediate | 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 | 5.19773 | 5.19998 | 5.20377 | 5.20602 | 5.20981 | 5.21206 | 5.21585 |
| Camarilla | 5.20589 | 5.20644 | 5.20700 | 5.20755 | 5.20810 | 5.20866 | 5.20921 |
| Woodie | 5.19849 | 5.20037 | 5.20453 | 5.20641 | 5.21057 | 5.21245 | 5.21661 |
| Fibonacci | 5.19998 | 5.20229 | 5.20372 | 5.20602 | 5.20833 | 5.20976 | 5.21206 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.04869 | 5.09323 | 5.14753 | 5.19207 | 5.24637 | 5.29091 | 5.34521 |
| Camarilla | 5.17466 | 5.18372 | 5.19278 | 5.20184 | 5.21090 | 5.21996 | 5.22902 |
| Woodie | 5.05358 | 5.09567 | 5.15242 | 5.19451 | 5.25126 | 5.29335 | 5.35010 |
| Fibonacci | 5.09323 | 5.13098 | 5.15431 | 5.19207 | 5.22982 | 5.25315 | 5.29091 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.98904 | 5.03074 | 5.07121 | 5.11291 | 5.15338 | 5.19508 | 5.23555 |
| Camarilla | 5.08907 | 5.09661 | 5.10414 | 5.11167 | 5.11920 | 5.12674 | 5.13427 |
| Woodie | 4.98842 | 5.03043 | 5.07059 | 5.11260 | 5.15276 | 5.19477 | 5.23493 |
| Fibonacci | 5.03074 | 5.06213 | 5.08152 | 5.11291 | 5.14430 | 5.16369 | 5.19508 |
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): | 61.51 | |
| MACD (12,26,9): | 0.0277 | |
| Directional Movement: | 14.52768 | |
| AROON (14): | 85.71429 | |
| DEMA (21): | 5.20211 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.15135 | |
| Elder Ray (13): | 0.02258 | |
| Super Trend (3,10): | 5.12264 | |
| Zig ZAG (10): | 5.20197 | |
| VORTEX (21): | 1.1620 | |
| Stochastique (14,3,5): | 80.16 | |
| TEMA (21): | 5.21387 | |
| Williams %R (14): | -21.24 | |
| Chande Momentum Oscillator (20): | 0.02737 | |
| Repulse (5,40,3): | -0.0543 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0674 | |
| Courbe Coppock: | 3.31 |
| MA7: | 5.20085 | |
| MA20: | 5.15706 | |
| MA50: | 5.11053 | |
| MA100: | 5.09034 | |
| MAexp7: | 5.19802 | |
| MAexp20: | 5.16744 | |
| MAexp50: | 5.13215 | |
| MAexp100: | 5.12648 | |
| Price / MA7: | +0.13% | |
| Price / MA20: | +0.98% | |
| Price / MA50: | +1.90% | |
| Price / MA100: | +2.30% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.78% | |
| Price / MAexp50: | +1.47% | |
| Price / MAexp100: | +1.58% |
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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