CAD/DKK - 1H - Technical analysis published on 11/07/2024 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
6%
50%
44%
My opinion
Bullish above 4.9630 DKK
My targets
4.9989 DKK (+0.0205)
5.0107 DKK (+0.0323)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 4.9630 DKK remains possible. It is advisable to trade CAD/DKK with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 4.9630 DKK. The next bullish objective for buyers is set at 4.9989 DKK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 5.0107 DKK. If there is any crossing, the next objective would be the resistance located at 5.0512 DKK. PS: if there is a bearish break in the support located at 4.9630 DKK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bullish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.1
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Additional analysis
Quotes
The CAD/DKK rating is 4.9784 DKK. The price registered a decrease of -0.09% on the session and was traded between 4.9769 DKK and 5.0000 DKK over the period. The price is currently at +0.03% from its lowest and -0.43% from its highest.4.9769
5.0000
4.9784
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 (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 CAD/DKK in 1H shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.9161 | 4.9386 | 4.9630 | 4.9784 | 4.9813 | 4.9989 | 5.0107 |
| Change (%) | -1.25% | -0.80% | -0.31% | - | +0.06% | +0.41% | +0.65% |
| Change | -0.0623 | -0.0398 | -0.0154 | - | +0.0029 | +0.0205 | +0.0323 |
| Level | Major | Major | Minor | - | Minor | Minor | Major |
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 | 4.8490 | 4.8896 | 4.9362 | 4.9768 | 5.0234 | 5.0640 | 5.1106 |
| Camarilla | 4.9588 | 4.9668 | 4.9748 | 4.9828 | 4.9908 | 4.9988 | 5.0068 |
| Woodie | 4.8520 | 4.8911 | 4.9392 | 4.9783 | 5.0264 | 5.0655 | 5.1136 |
| Fibonacci | 4.8896 | 4.9229 | 4.9435 | 4.9768 | 5.0101 | 5.0307 | 5.0640 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.8428 | 4.8794 | 4.9083 | 4.9449 | 4.9738 | 5.0104 | 5.0393 |
| Camarilla | 4.9193 | 4.9253 | 4.9313 | 4.9373 | 4.9433 | 4.9493 | 4.9553 |
| Woodie | 4.8391 | 4.8775 | 4.9046 | 4.9430 | 4.9701 | 5.0085 | 5.0356 |
| Fibonacci | 4.8794 | 4.9044 | 4.9199 | 4.9449 | 4.9699 | 4.9854 | 5.0104 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.7873 | 4.8522 | 4.8852 | 4.9501 | 4.9831 | 5.0480 | 5.0810 |
| Camarilla | 4.8912 | 4.9002 | 4.9091 | 4.9181 | 4.9271 | 4.9361 | 4.9450 |
| Woodie | 4.7713 | 4.8442 | 4.8692 | 4.9421 | 4.9671 | 5.0400 | 5.0650 |
| Fibonacci | 4.8522 | 4.8896 | 4.9127 | 4.9501 | 4.9875 | 5.0106 | 5.0480 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 43.73 | |
| MACD (12,26,9): | 0.0025 | |
| Directional Movement: | -6.8456 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 4.9936 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.9996 | |
| Elder Ray (13): | -0.0077 | |
| Super Trend (3,10): | 4.9775 | |
| Zig ZAG (10): | 4.9791 | |
| VORTEX (21): | 0.9361 | |
| Stochastique (14,3,5): | 21.14 | |
| TEMA (21): | 4.9880 | |
| Williams %R (14): | -92.21 | |
| Chande Momentum Oscillator (20): | -0.0162 | |
| Repulse (5,40,3): | -0.2583 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0155 | |
| Courbe Coppock: | 0.07 |
| MA7: | 4.9457 | |
| MA20: | 4.9661 | |
| MA50: | 4.9677 | |
| MA100: | 4.9832 | |
| MAexp7: | 4.9872 | |
| MAexp20: | 4.9886 | |
| MAexp50: | 4.9766 | |
| MAexp100: | 4.9634 | |
| Price / MA7: | +0.66% | |
| Price / MA20: | +0.25% | |
| Price / MA50: | +0.22% | |
| Price / MA100: | -0.10% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | -0.20% | |
| Price / MAexp50: | +0.04% | |
| Price / MAexp100: | +0.31% |
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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