CAD/MXN - 1H - Technical analysis published on 08/22/2024 (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
72%
6%
22%
My opinion
Bullish above 14.283 MXN
My targets
14.609 MXN (+0.273)
15.929 MXN (+1.593)
My analysis
CAD/MXN is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 14.283 MXN. The next resistance located at 14.609 MXN is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 15.929 MXN. After this resistance, buyers could then target 17.137 MXN. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.2
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Additional analysis
Quotes
The CAD/MXN rating is 14.336 MXN. On the day, this instrument gained +1.00% and was between 14.187 MXN and 14.350 MXN. This implies that the price is at +1.05% from its lowest and at -0.10% from its highest.14.187
14.350
14.336
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/MXN chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.942 | 14.208 | 14.283 | 14.336 | 15.929 | 17.137 | 17.715 |
| Change (%) | -2.75% | -0.89% | -0.37% | - | +11.11% | +19.54% | +23.57% |
| Change | -0.394 | -0.128 | -0.053 | - | +1.593 | +2.801 | +3.379 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Intermediate | Minor |
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 | 13.604 | 13.757 | 13.976 | 14.129 | 14.348 | 14.501 | 14.720 |
| Camarilla | 14.092 | 14.126 | 14.160 | 14.194 | 14.228 | 14.262 | 14.296 |
| Woodie | 13.636 | 13.774 | 14.008 | 14.146 | 14.380 | 14.518 | 14.752 |
| Fibonacci | 13.757 | 13.899 | 13.987 | 14.129 | 14.271 | 14.359 | 14.501 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.143 | 13.352 | 13.491 | 13.700 | 13.839 | 14.048 | 14.187 |
| Camarilla | 13.535 | 13.567 | 13.599 | 13.631 | 13.663 | 13.695 | 13.727 |
| Woodie | 13.109 | 13.335 | 13.457 | 13.683 | 13.805 | 14.031 | 14.153 |
| Fibonacci | 13.352 | 13.485 | 13.567 | 13.700 | 13.833 | 13.915 | 14.048 |
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): | 69.03 | |
| MACD (12,26,9): | 0.0520 | |
| Directional Movement: | 18.974 | |
| AROON (14): | 35.714 | |
| DEMA (21): | 14.329 | |
| Parabolic SAR (0,02-0,02-0,2): | 14.253 | |
| Elder Ray (13): | 0.033 | |
| Super Trend (3,10): | 14.195 | |
| Zig ZAG (10): | 14.317 | |
| VORTEX (21): | 1.1520 | |
| Stochastique (14,3,5): | 76.73 | |
| TEMA (21): | 14.319 | |
| Williams %R (14): | -20.81 | |
| Chande Momentum Oscillator (20): | 0.099 | |
| Repulse (5,40,3): | 0.2170 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0560 | |
| Courbe Coppock: | 1.16 |
| MA7: | 13.872 | |
| MA20: | 13.787 | |
| MA50: | 13.457 | |
| MA100: | 12.964 | |
| MAexp7: | 14.300 | |
| MAexp20: | 14.256 | |
| MAexp50: | 14.137 | |
| MAexp100: | 14.003 | |
| Price / MA7: | +3.34% | |
| Price / MA20: | +3.98% | |
| Price / MA50: | +6.53% | |
| Price / MA100: | +10.58% | |
| Price / MAexp7: | +0.25% | |
| Price / MAexp20: | +0.56% | |
| Price / MAexp50: | +1.41% | |
| Price / MAexp100: | +2.38% |
Quotes :
-
Real time data
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Forex
News
Don't forget to follow the news on CAD/MXN. At the time of publication of this analysis, the latest news 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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