CAD/CNH - Daily - Technical analysis published on 07/14/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
28%
28%
44%
My opinion
Bullish above 5.39957 CNH
My targets
5.50898 CNH (+0.05476)
5.69055 CNH (+0.23633)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CAD/CNH as long as the price remains well above 5.39957 CNH. The buyers' bullish objective is set at 5.50898 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 5.69055 CNH. If there is any crossing, the next objective would be the resistance located at 5.83960 CNH. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/CNH rating 5.45422 CNH. The price registered a decrease of -0.01% on the session with the lowest point at 5.44812 CNH and the highest point at 5.45829 CNH. The deviation from the price is +0.11% for the low point and -0.07% for the high point.5.44812
5.45829
5.45422
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CAD/CNH:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CAD/CNH indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 8 are neutral and 5 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.28535 | 5.33866 | 5.39957 | 5.45422 | 5.46534 | 5.50898 | 5.83960 |
| Change (%) | -3.10% | -2.12% | -1.00% | - | +0.20% | +1.00% | +7.07% |
| Change | -0.16887 | -0.11556 | -0.05465 | - | +0.01112 | +0.05476 | +0.38538 |
| Level | Minor | Intermediate | Major | - | Minor | 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 | 5.41413 | 5.42328 | 5.43891 | 5.44806 | 5.46369 | 5.47284 | 5.48847 |
| Camarilla | 5.44773 | 5.45000 | 5.45227 | 5.45454 | 5.45681 | 5.45908 | 5.46136 |
| Woodie | 5.41737 | 5.42490 | 5.44215 | 5.44968 | 5.46693 | 5.47446 | 5.49171 |
| Fibonacci | 5.42328 | 5.43275 | 5.43859 | 5.44806 | 5.45753 | 5.46337 | 5.47284 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.33211 | 5.37246 | 5.41069 | 5.45104 | 5.48927 | 5.52962 | 5.56785 |
| Camarilla | 5.42730 | 5.43450 | 5.44171 | 5.44891 | 5.45611 | 5.46332 | 5.47052 |
| Woodie | 5.33104 | 5.37193 | 5.40962 | 5.45051 | 5.48820 | 5.52909 | 5.56678 |
| Fibonacci | 5.37246 | 5.40248 | 5.42103 | 5.45104 | 5.48106 | 5.49961 | 5.52962 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.03456 | 5.13505 | 5.31231 | 5.41280 | 5.59006 | 5.69055 | 5.86781 |
| Camarilla | 5.41320 | 5.43866 | 5.46412 | 5.48958 | 5.51504 | 5.54050 | 5.56596 |
| Woodie | 5.07296 | 5.15424 | 5.35071 | 5.43199 | 5.62846 | 5.70974 | 5.90621 |
| Fibonacci | 5.13505 | 5.24115 | 5.30670 | 5.41280 | 5.51890 | 5.58445 | 5.69055 |
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): | 59.67 | |
| MACD (12,26,9): | 0.0297 | |
| Directional Movement: | 3.42842 | |
| AROON (14): | -57.14285 | |
| DEMA (21): | 5.48416 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.47095 | |
| Elder Ray (13): | 0.00388 | |
| Super Trend (3,10): | 5.39573 | |
| Zig ZAG (10): | 5.45361 | |
| VORTEX (21): | 1.1404 | |
| Stochastique (14,3,5): | 34.32 | |
| TEMA (21): | 5.46453 | |
| Williams %R (14): | -59.39 | |
| Chande Momentum Oscillator (20): | -0.01176 | |
| Repulse (5,40,3): | 0.2404 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1161 | |
| Courbe Coppock: | 0.49 |
| MA7: | 5.44527 | |
| MA20: | 5.46028 | |
| MA50: | 5.33774 | |
| MA100: | 5.20927 | |
| MAexp7: | 5.45115 | |
| MAexp20: | 5.43662 | |
| MAexp50: | 5.35450 | |
| MAexp100: | 5.27353 | |
| Price / MA7: | +0.16% | |
| Price / MA20: | -0.11% | |
| Price / MA50: | +2.18% | |
| Price / MA100: | +4.70% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.32% | |
| Price / MAexp50: | +1.86% | |
| Price / MAexp100: | +3.43% |
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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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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