CAD/PLN - Daily - Technical analysis published on 06/07/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
56%
0%
44%
My opinion
Bearish under 3.1987 PLN
My targets
3.1004 PLN (-0.0216)
3.0148 PLN (-0.1072)
My analysis
The basic trend is bearish on CAD/PLN and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 3.1987 PLN. Buyers would then use the next resistance located at 3.3436 PLN as an objective. Crossing it would then enable buyers to target 3.4573 PLN. If there is a return to below the support located at 3.1004 PLN, this would be a sign of a reversal in the basic bearish trend. The next bearish objectives would be 3.0148 PLN and 2.9020 PLN by extension.
In the very short term, technical indicators are in opposition with the general bearish 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
0
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Additional analysis
Quotes
The CAD/PLN rating is 3.1220 PLN. The price registered an increase of +0.00% on the session and was between 3.1210 PLN and 3.1246 PLN. This implies that the price is at +0.03% from its lowest and at -0.08% from its highest.3.1210
3.1246
3.1220
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CAD/PLN in Daily shows an overall bearish trend. The signals given by moving averages are at 67.86% bearish. This bearish trend could slow down given the slightly bullish 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.
In fact, 10 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
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 | 2.9020 | 3.0148 | 3.1004 | 3.1220 | 3.1987 | 3.3436 | 3.4573 |
| Change (%) | -7.05% | -3.43% | -0.69% | - | +2.46% | +7.10% | +10.74% |
| Change | -0.2200 | -0.1072 | -0.0216 | - | +0.0767 | +0.2216 | +0.3353 |
| Level | Minor | Intermediate | Major | - | Major | Major | 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 | 3.0814 | 3.0941 | 3.1081 | 3.1208 | 3.1348 | 3.1475 | 3.1615 |
| Camarilla | 3.1148 | 3.1172 | 3.1197 | 3.1221 | 3.1246 | 3.1270 | 3.1294 |
| Woodie | 3.0821 | 3.0944 | 3.1088 | 3.1211 | 3.1355 | 3.1478 | 3.1622 |
| Fibonacci | 3.0941 | 3.1043 | 3.1106 | 3.1208 | 3.1310 | 3.1373 | 3.1475 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.0498 | 3.0702 | 3.0962 | 3.1166 | 3.1426 | 3.1630 | 3.1890 |
| Camarilla | 3.1094 | 3.1137 | 3.1180 | 3.1222 | 3.1265 | 3.1307 | 3.1350 |
| Woodie | 3.0526 | 3.0716 | 3.0990 | 3.1180 | 3.1454 | 3.1644 | 3.1918 |
| Fibonacci | 3.0702 | 3.0879 | 3.0989 | 3.1166 | 3.1343 | 3.1453 | 3.1630 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.9602 | 2.9986 | 3.0596 | 3.0980 | 3.1590 | 3.1974 | 3.2584 |
| Camarilla | 3.0932 | 3.1023 | 3.1114 | 3.1205 | 3.1296 | 3.1387 | 3.1478 |
| Woodie | 2.9714 | 3.0043 | 3.0708 | 3.1037 | 3.1702 | 3.2031 | 3.2696 |
| Fibonacci | 2.9986 | 3.0366 | 3.0601 | 3.0980 | 3.1360 | 3.1595 | 3.1974 |
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): | 54.76 | |
| MACD (12,26,9): | 0.0035 | |
| Directional Movement: | 5.5216 | |
| AROON (14): | 42.8572 | |
| DEMA (21): | 3.1075 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.0762 | |
| Elder Ray (13): | 0.0133 | |
| Super Trend (3,10): | 3.1312 | |
| Zig ZAG (10): | 3.1216 | |
| VORTEX (21): | 1.0451 | |
| Stochastique (14,3,5): | 73.73 | |
| TEMA (21): | 3.1232 | |
| Williams %R (14): | -20.27 | |
| Chande Momentum Oscillator (20): | 0.0386 | |
| Repulse (5,40,3): | 0.0049 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0044 | |
| Courbe Coppock: | 1.58 |
| MA7: | 3.1179 | |
| MA20: | 3.0999 | |
| MA50: | 3.1146 | |
| MA100: | 3.1803 | |
| MAexp7: | 3.1157 | |
| MAexp20: | 3.1064 | |
| MAexp50: | 3.1235 | |
| MAexp100: | 3.1759 | |
| Price / MA7: | +0.13% | |
| Price / MA20: | +0.71% | |
| Price / MA50: | +0.24% | |
| Price / MA100: | -1.83% | |
| Price / MAexp7: | +0.20% | |
| Price / MAexp20: | +0.50% | |
| Price / MAexp50: | -0.05% | |
| Price / MAexp100: | -1.70% |
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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