CAD/HUF - 1H - Technical analysis published on 11/24/2023 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
39%
44%
My opinion
Bearish under 254.36 HUF
My targets
253.75 HUF (-0.31)
252.08 HUF (-1.98)
My analysis
In the short term, we can see an acceleration in the bearish trend on CAD/HUF, which is a positive signal for sellers. As long as the price remains above 254.36 HUF, a sale could be considered. The first bearish objective is located at 253.75 HUF. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 252.08 HUF as an objective. Crossing it would then enable sellers to target 251.25 HUF. If the price were to return above 254.36 HUF, 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 sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
4.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/HUF price is 254.06 HUF. The price registered a decrease of -0.01% on the session and was traded between 253.81 HUF and 254.18 HUF over the period. The price is currently at +0.10% from its lowest and -0.05% from its highest.253.81
254.18
254.06
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
A technical analysis in 1H of this CAD/HUF chart shows a bearish trend. 64.29% 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 251.25 | 252.08 | 253.75 | 254.06 | 254.36 | 254.98 | 255.86 |
| Change (%) | -1.11% | -0.78% | -0.12% | - | +0.12% | +0.36% | +0.71% |
| Change | -2.81 | -1.98 | -0.31 | - | +0.30 | +0.92 | +1.80 |
| Level | Minor | Major | Intermediate | - | Intermediate | Minor | 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 | 251.35 | 252.55 | 253.32 | 254.52 | 255.29 | 256.49 | 257.26 |
| Camarilla | 253.55 | 253.73 | 253.91 | 254.09 | 254.27 | 254.45 | 254.63 |
| Woodie | 251.14 | 252.44 | 253.11 | 254.41 | 255.08 | 256.38 | 257.05 |
| Fibonacci | 252.55 | 253.30 | 253.77 | 254.52 | 255.27 | 255.74 | 256.49 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 245.93 | 248.59 | 251.02 | 253.68 | 256.11 | 258.77 | 261.20 |
| Camarilla | 252.05 | 252.52 | 252.98 | 253.45 | 253.92 | 254.38 | 254.85 |
| Woodie | 245.82 | 248.53 | 250.91 | 253.62 | 256.00 | 258.71 | 261.09 |
| Fibonacci | 248.59 | 250.53 | 251.74 | 253.68 | 255.62 | 256.83 | 258.77 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 240.12 | 249.51 | 255.02 | 264.41 | 269.92 | 279.31 | 284.82 |
| Camarilla | 256.42 | 257.79 | 259.15 | 260.52 | 261.89 | 263.25 | 264.62 |
| Woodie | 238.17 | 248.54 | 253.07 | 263.44 | 267.97 | 278.34 | 282.87 |
| Fibonacci | 249.51 | 255.21 | 258.72 | 264.41 | 270.11 | 273.62 | 279.31 |
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): | 40.44 | |
| MACD (12,26,9): | -0.1900 | |
| Directional Movement: | -7.15 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 253.98 | |
| Parabolic SAR (0,02-0,02-0,2): | 253.82 | |
| Elder Ray (13): | -0.09 | |
| Super Trend (3,10): | 254.89 | |
| Zig ZAG (10): | 254.02 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 47.59 | |
| TEMA (21): | 253.87 | |
| Williams %R (14): | -63.16 | |
| Chande Momentum Oscillator (20): | -0.05 | |
| Repulse (5,40,3): | 0.0000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.10 |
| MA7: | 253.86 | |
| MA20: | 256.43 | |
| MA50: | 263.52 | |
| MA100: | 262.47 | |
| MAexp7: | 254.09 | |
| MAexp20: | 254.24 | |
| MAexp50: | 254.38 | |
| MAexp100: | 254.24 | |
| Price / MA7: | +0.08% | |
| Price / MA20: | -0.92% | |
| Price / MA50: | -3.59% | |
| Price / MA100: | -3.20% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.13% | |
| Price / MAexp100: | -0.07% |
Quotes :
-
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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