CHF/CNH - 1H - Technical analysis published on 08/09/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
39%
11%
50%
My opinion
Bullish above 8.24365 CNH
My targets
8.27458 CNH (+0.01061)
8.28498 CNH (+0.02101)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CHF/CNH as long as the price remains well above 8.24365 CNH. The buyers' bullish objective is set at 8.27458 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.28498 CNH. If there is any crossing, the next objective would be the resistance located at 8.42704 CNH. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
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Additional analysis
Quotes
The CHF/CNH price is 8.26397 CNH. On the day, this instrument lost -0.03% and was between 8.24910 CNH and 8.27844 CNH. This implies that the price is at +0.18% from its lowest and at -0.17% from its highest.8.24910
8.27844
8.26397
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 CHF/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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CHF/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, only 7 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact 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 | 8.18589 | 8.20193 | 8.24365 | 8.26397 | 8.27458 | 8.28498 | 8.42704 |
| Change (%) | -0.94% | -0.75% | -0.25% | - | +0.13% | +0.25% | +1.97% |
| Change | -0.07808 | -0.06204 | -0.02032 | - | +0.01061 | +0.02101 | +0.16307 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Minor | Intermediate |
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 | 8.20449 | 8.22438 | 8.24520 | 8.26509 | 8.28591 | 8.30580 | 8.32662 |
| Camarilla | 8.25483 | 8.25856 | 8.26229 | 8.26602 | 8.26975 | 8.27348 | 8.27722 |
| Woodie | 8.20496 | 8.22461 | 8.24567 | 8.26532 | 8.28638 | 8.30603 | 8.32709 |
| Fibonacci | 8.22438 | 8.23993 | 8.24954 | 8.26509 | 8.28064 | 8.29025 | 8.30580 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.10714 | 8.13907 | 8.18939 | 8.22132 | 8.27164 | 8.30357 | 8.35389 |
| Camarilla | 8.21710 | 8.22464 | 8.23218 | 8.23972 | 8.24726 | 8.25480 | 8.26234 |
| Woodie | 8.11635 | 8.14367 | 8.19860 | 8.22592 | 8.28085 | 8.30817 | 8.36310 |
| Fibonacci | 8.13907 | 8.17049 | 8.18990 | 8.22132 | 8.25274 | 8.27215 | 8.30357 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.63464 | 7.84243 | 8.02218 | 8.22997 | 8.40972 | 8.61751 | 8.79726 |
| Camarilla | 8.09536 | 8.13088 | 8.16641 | 8.20193 | 8.23746 | 8.27298 | 8.30850 |
| Woodie | 7.62062 | 7.83542 | 8.00816 | 8.22296 | 8.39570 | 8.61050 | 8.78324 |
| Fibonacci | 7.84243 | 7.99047 | 8.08193 | 8.22997 | 8.37801 | 8.46947 | 8.61751 |
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): | 52.16 | |
| MACD (12,26,9): | 0.0014 | |
| Directional Movement: | 6.77205 | |
| AROON (14): | -14.28572 | |
| DEMA (21): | 8.26399 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.27506 | |
| Elder Ray (13): | 0.00192 | |
| Super Trend (3,10): | 8.24730 | |
| Zig ZAG (10): | 8.26284 | |
| VORTEX (21): | 1.0205 | |
| Stochastique (14,3,5): | 39.98 | |
| TEMA (21): | 8.26054 | |
| Williams %R (14): | -49.90 | |
| Chande Momentum Oscillator (20): | 0.00064 | |
| Repulse (5,40,3): | 0.0619 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0049 | |
| Courbe Coppock: | 0.07 |
| MA7: | 8.23736 | |
| MA20: | 8.27597 | |
| MA50: | 8.11995 | |
| MA100: | 7.91447 | |
| MAexp7: | 8.26132 | |
| MAexp20: | 8.26110 | |
| MAexp50: | 8.25313 | |
| MAexp100: | 8.24284 | |
| Price / MA7: | +0.32% | |
| Price / MA20: | -0.14% | |
| Price / MA50: | +1.77% | |
| Price / MA100: | +4.42% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | +0.26% |
Quotes :
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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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