CAD/HKD - 1H - Technical analysis published on 12/03/2024 (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:
Strongly bearish
Underlying:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 5.5520 HKD
My targets
5.5205 HKD (-0.0191)
5.5016 HKD (-0.0380)
My analysis
In the short term, we can see an acceleration in the bearish trend on CAD/HKD, which is a positive signal for sellers. As long as the price remains above 5.5520 HKD, a sale could be considered. The first bearish objective is located at 5.5205 HKD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 5.5016 HKD as an objective. Crossing it would then enable sellers to target 5.4891 HKD. If the price were to return above 5.5520 HKD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
3
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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/HKD rating 5.5396 HKD. The price is lower by -0.01% since the last closing with the lowest point at 5.5390 HKD and the highest point at 5.5408 HKD. The deviation from the price is +0.01% for the low point and -0.02% for the high point.5.5390
5.5408
5.5396
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/HKD:
Near a new LOW record (5 years)
Type : Bearish
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/HKD indicates that the overall trend is bearish. 78.57% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals 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, 10 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.4891 | 5.5016 | 5.5205 | 5.5396 | 5.5520 | 5.5679 | 5.5790 |
| Change (%) | -0.91% | -0.69% | -0.34% | - | +0.22% | +0.51% | +0.71% |
| Change | -0.0505 | -0.0380 | -0.0191 | - | +0.0124 | +0.0283 | +0.0394 |
| Level | Intermediate | Minor | Major | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.4797 | 5.5014 | 5.5207 | 5.5424 | 5.5617 | 5.5834 | 5.6027 |
| Camarilla | 5.5286 | 5.5324 | 5.5361 | 5.5399 | 5.5437 | 5.5474 | 5.5512 |
| Woodie | 5.4784 | 5.5008 | 5.5194 | 5.5418 | 5.5604 | 5.5828 | 5.6014 |
| Fibonacci | 5.5014 | 5.5171 | 5.5268 | 5.5424 | 5.5581 | 5.5678 | 5.5834 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.4014 | 5.4452 | 5.5008 | 5.5446 | 5.6002 | 5.6440 | 5.6996 |
| Camarilla | 5.5290 | 5.5381 | 5.5472 | 5.5563 | 5.5654 | 5.5745 | 5.5836 |
| Woodie | 5.4072 | 5.4482 | 5.5066 | 5.5476 | 5.6060 | 5.6470 | 5.7054 |
| Fibonacci | 5.4452 | 5.4832 | 5.5067 | 5.5446 | 5.5826 | 5.6061 | 5.6440 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.3542 | 5.4216 | 5.4890 | 5.5564 | 5.6238 | 5.6912 | 5.7586 |
| Camarilla | 5.5192 | 5.5316 | 5.5439 | 5.5563 | 5.5687 | 5.5810 | 5.5934 |
| Woodie | 5.3541 | 5.4216 | 5.4889 | 5.5564 | 5.6237 | 5.6912 | 5.7585 |
| Fibonacci | 5.4216 | 5.4731 | 5.5049 | 5.5564 | 5.6079 | 5.6397 | 5.6912 |
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): | 47.77 | |
| MACD (12,26,9): | -0.0029 | |
| Directional Movement: | -6.1027 | |
| AROON (14): | -35.7142 | |
| DEMA (21): | 5.5370 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.5258 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 5.5496 | |
| Zig ZAG (10): | 5.5412 | |
| VORTEX (21): | 0.9694 | |
| Stochastique (14,3,5): | 64.08 | |
| TEMA (21): | 5.5367 | |
| Williams %R (14): | -35.06 | |
| Chande Momentum Oscillator (20): | -0.0032 | |
| Repulse (5,40,3): | 0.0721 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0108 | |
| Courbe Coppock: | 0.21 |
| MA7: | 5.5468 | |
| MA20: | 5.5631 | |
| MA50: | 5.6236 | |
| MA100: | 5.6676 | |
| MAexp7: | 5.5396 | |
| MAexp20: | 5.5413 | |
| MAexp50: | 5.5460 | |
| MAexp100: | 5.5483 | |
| Price / MA7: | -0.13% | |
| Price / MA20: | -0.42% | |
| Price / MA50: | -1.49% | |
| Price / MA100: | -2.26% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | -0.12% | |
| Price / MAexp100: | -0.16% |
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.
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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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