CAD/CNH - 1H - Technical analysis published on 11/04/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
56%
11%
33%
My opinion
Bullish above 5.10886 CNH
My targets
5.12124 CNH (+0.00593)
5.13321 CNH (+0.01790)
My analysis
The current short-term bullish acceleration on CAD/CNH should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 5.10886 CNH. Short-term buyers will use the resistance located at 5.12124 CNH as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 5.13321 CNH. Crossing this resistance would then open the door for buyers to target 5.13785 CNH. Caution, if there is a return to under 5.10886 CNH, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.
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
2.5
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.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/CNH rating is 5.11531 CNH. On the day, this instrument lost -0.02% with the lowest point at 5.09879 CNH and the highest point at 5.12063 CNH. The deviation from the price is +0.32% for the low point and -0.10% for the high point.5.09879
5.12063
5.11531
Here is a more detailed summary of the historical variations registered by CAD/CNH:
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
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 not clearly defined. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.09074 | 5.10886 | 5.11420 | 5.11531 | 5.12124 | 5.13321 | 5.13785 |
| Change (%) | -0.48% | -0.13% | -0.02% | - | +0.12% | +0.35% | +0.44% |
| Change | -0.02457 | -0.00645 | -0.00111 | - | +0.00593 | +0.01790 | +0.02254 |
| Level | Minor | Intermediate | Minor | - | Minor | Intermediate | Minor |
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 |
|---|---|---|---|---|---|---|---|
| Standard | 5.08930 | 5.09914 | 5.10783 | 5.11767 | 5.12636 | 5.13620 | 5.14489 |
| Camarilla | 5.11143 | 5.11313 | 5.11483 | 5.11653 | 5.11823 | 5.11993 | 5.12163 |
| Woodie | 5.08874 | 5.09885 | 5.10727 | 5.11738 | 5.12580 | 5.13591 | 5.14433 |
| Fibonacci | 5.09914 | 5.10622 | 5.11059 | 5.11767 | 5.12475 | 5.12912 | 5.13620 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.04738 | 5.07812 | 5.09732 | 5.12806 | 5.14726 | 5.17800 | 5.19720 |
| Camarilla | 5.10280 | 5.10737 | 5.11195 | 5.11653 | 5.12111 | 5.12569 | 5.13026 |
| Woodie | 5.04162 | 5.07524 | 5.09156 | 5.12518 | 5.14150 | 5.17512 | 5.19144 |
| Fibonacci | 5.07812 | 5.09719 | 5.10898 | 5.12806 | 5.14713 | 5.15892 | 5.17800 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.94276 | 5.02581 | 5.06785 | 5.15090 | 5.19294 | 5.27599 | 5.31803 |
| Camarilla | 5.07550 | 5.08697 | 5.09843 | 5.10990 | 5.12137 | 5.13283 | 5.14430 |
| Woodie | 4.92227 | 5.01556 | 5.04736 | 5.14065 | 5.17245 | 5.26574 | 5.29754 |
| Fibonacci | 5.02581 | 5.07359 | 5.10311 | 5.15090 | 5.19868 | 5.22820 | 5.27599 |
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): | 54.57 | |
| MACD (12,26,9): | 0.0013 | |
| Directional Movement: | 8.17683 | |
| AROON (14): | 35.71428 | |
| DEMA (21): | 5.11365 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.11221 | |
| Elder Ray (13): | 0.00139 | |
| Super Trend (3,10): | 5.10074 | |
| Zig ZAG (10): | 5.11510 | |
| VORTEX (21): | 1.0001 | |
| Stochastique (14,3,5): | 75.20 | |
| TEMA (21): | 5.11642 | |
| Williams %R (14): | -25.05 | |
| Chande Momentum Oscillator (20): | 0.01087 | |
| Repulse (5,40,3): | -0.0368 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0005 | |
| Courbe Coppock: | 0.48 |
| MA7: | 5.12535 | |
| MA20: | 5.14923 | |
| MA50: | 5.19694 | |
| MA100: | 5.23878 | |
| MAexp7: | 5.11494 | |
| MAexp20: | 5.11257 | |
| MAexp50: | 5.11394 | |
| MAexp100: | 5.11982 | |
| Price / MA7: | -0.20% | |
| Price / MA20: | -0.66% | |
| Price / MA50: | -1.57% | |
| Price / MA100: | -2.36% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | +0.04% | |
| Price / MAexp100: | -0.08% |
Quotes :
-
Real time data
-
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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