CAD/MXN - 1H - Technical analysis published on 08/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 13.409 MXN
My targets
13.595 MXN (+0.097)
13.671 MXN (+0.173)
My analysis
The basic trend is bullish on CAD/MXN and in the short term, the price is attempting to correct. For the time being, this is only a simple technical correction and the basic trend is not threatened. For the correction to be confirmed, it would have to at least return to below the support 13.409 MXN. Sellers would then use the next support located at 13.242 MXN as an objective. Crossing it would then enable sellers to target 13.025 MXN. If there is a return to above the resistance located at 13.595 MXN, this would be a sign of a reversal in the basic bullish trend. The next bullish objectives will be 13.671 MXN and 13.942 MXN by extension.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. 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
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Additional analysis
Quotes
The CAD/MXN price is 13.498 MXN. The price is lower by -0.04% since the last closing and was between 13.480 MXN and 13.540 MXN. This implies that the price is at +0.13% from its lowest and at -0.31% from its highest.13.480
13.540
13.498
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
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
A technical analysis in 1H of this CAD/MXN chart shows a bullish trend. The signals given by moving averages are 64.29% bullish. This bullish trend could slow down given the slightly bearish 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.
The probability of a further increase is slight given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Black gravestone / inverted hammer
Type : Bearish
Timeframe : 1 hour
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.025 | 13.242 | 13.409 | 13.498 | 13.510 | 13.595 | 13.671 |
| Change (%) | -3.50% | -1.90% | -0.66% | - | +0.09% | +0.72% | +1.28% |
| Change | -0.473 | -0.256 | -0.089 | - | +0.012 | +0.097 | +0.173 |
| Level | Minor | Intermediate | Major | - | Minor | Minor | Major |
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 | 13.110 | 13.260 | 13.381 | 13.531 | 13.652 | 13.802 | 13.923 |
| Camarilla | 13.429 | 13.453 | 13.478 | 13.503 | 13.528 | 13.553 | 13.578 |
| Woodie | 13.097 | 13.253 | 13.368 | 13.524 | 13.639 | 13.795 | 13.910 |
| Fibonacci | 13.260 | 13.363 | 13.427 | 13.531 | 13.634 | 13.698 | 13.802 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.656 | 12.828 | 13.085 | 13.257 | 13.514 | 13.686 | 13.943 |
| Camarilla | 13.223 | 13.262 | 13.302 | 13.341 | 13.380 | 13.420 | 13.459 |
| Woodie | 12.698 | 12.849 | 13.127 | 13.278 | 13.556 | 13.707 | 13.985 |
| Fibonacci | 12.828 | 12.992 | 13.094 | 13.257 | 13.421 | 13.523 | 13.686 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.254 | 12.574 | 13.039 | 13.359 | 13.824 | 14.144 | 14.609 |
| Camarilla | 13.287 | 13.359 | 13.431 | 13.503 | 13.575 | 13.647 | 13.719 |
| Woodie | 12.326 | 12.610 | 13.111 | 13.395 | 13.896 | 14.180 | 14.681 |
| Fibonacci | 12.574 | 12.874 | 13.060 | 13.359 | 13.659 | 13.845 | 14.144 |
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): | 48.05 | |
| MACD (12,26,9): | -0.0040 | |
| Directional Movement: | 2.335 | |
| AROON (14): | 100.000 | |
| DEMA (21): | 13.507 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.426 | |
| Elder Ray (13): | 0.007 | |
| Super Trend (3,10): | 13.606 | |
| Zig ZAG (10): | 13.500 | |
| VORTEX (21): | 0.9280 | |
| Stochastique (14,3,5): | 69.29 | |
| TEMA (21): | 13.499 | |
| Williams %R (14): | -41.49 | |
| Chande Momentum Oscillator (20): | 0.022 | |
| Repulse (5,40,3): | -0.1770 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0080 | |
| Courbe Coppock: | 0.42 |
| MA7: | 13.430 | |
| MA20: | 13.199 | |
| MA50: | 13.157 | |
| MA100: | 12.724 | |
| MAexp7: | 13.508 | |
| MAexp20: | 13.511 | |
| MAexp50: | 13.504 | |
| MAexp100: | 13.455 | |
| Price / MA7: | +0.51% | |
| Price / MA20: | +2.27% | |
| Price / MA50: | +2.59% | |
| Price / MA100: | +6.08% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | +0.32% |
Quotes :
-
Real time data
-
Forex
News
The last news published on CAD/MXN at the time of the generation of this analysis was as follows:
FX Closing Bell April 25, Trump’s Tough Tariff Talk Awakens CAD & MXN BearsThis 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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