CAD/PLN - 1H - Technical analysis published on 07/25/2023 (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
56%
6%
39%
My opinion
Bullish above 3.0498 PLN
My targets
3.0858 PLN (+0.0323)
3.1243 PLN (+0.0708)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CAD/PLN as long as the price remains well above 3.0498 PLN. The buyers' bullish objective is set at 3.0858 PLN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 3.1243 PLN. If there is any crossing, the next objective would be the resistance located at 3.1375 PLN. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.7
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Additional analysis
Quotes
The CAD/PLN price is 3.0535 PLN. The price is lower by -0.01% since the last closing and was between 3.0524 PLN and 3.0544 PLN. This implies that the price is at +0.04% from its lowest and at -0.03% from its highest.3.0524
3.0544
3.0535
A study of price movements over other periods shows the following variations:
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 1H shows a strongly overall 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 scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase are moderate 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 these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.0238 | 3.0310 | 3.0498 | 3.0535 | 3.1375 | 3.1987 | 3.2811 |
| Change (%) | -0.97% | -0.74% | -0.12% | - | +2.75% | +4.76% | +7.45% |
| Change | -0.0297 | -0.0225 | -0.0037 | - | +0.0840 | +0.1452 | +0.2276 |
| Level | Major | Intermediate | Minor | - | Intermediate | Major | Minor |
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 | 3.0011 | 3.0130 | 3.0333 | 3.0452 | 3.0655 | 3.0774 | 3.0977 |
| Camarilla | 3.0449 | 3.0478 | 3.0508 | 3.0537 | 3.0567 | 3.0596 | 3.0626 |
| Woodie | 3.0054 | 3.0151 | 3.0376 | 3.0473 | 3.0698 | 3.0795 | 3.1020 |
| Fibonacci | 3.0130 | 3.0253 | 3.0329 | 3.0452 | 3.0575 | 3.0651 | 3.0774 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.9290 | 2.9556 | 2.9941 | 3.0207 | 3.0592 | 3.0858 | 3.1243 |
| Camarilla | 3.0148 | 3.0208 | 3.0267 | 3.0327 | 3.0387 | 3.0446 | 3.0506 |
| Woodie | 2.9351 | 2.9586 | 3.0002 | 3.0237 | 3.0653 | 3.0888 | 3.1304 |
| Fibonacci | 2.9556 | 2.9804 | 2.9958 | 3.0207 | 3.0455 | 3.0609 | 3.0858 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.9481 | 3.0016 | 3.0404 | 3.0939 | 3.1327 | 3.1862 | 3.2250 |
| Camarilla | 3.0537 | 3.0622 | 3.0706 | 3.0791 | 3.0876 | 3.0960 | 3.1045 |
| Woodie | 2.9407 | 2.9979 | 3.0330 | 3.0902 | 3.1253 | 3.1825 | 3.2176 |
| Fibonacci | 3.0016 | 3.0369 | 3.0587 | 3.0939 | 3.1292 | 3.1510 | 3.1862 |
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): | 62.87 | |
| MACD (12,26,9): | 0.0046 | |
| Directional Movement: | 9.6120 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 3.0546 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.0463 | |
| Elder Ray (13): | 0.0022 | |
| Super Trend (3,10): | 3.0403 | |
| Zig ZAG (10): | 3.0533 | |
| VORTEX (21): | 1.1476 | |
| Stochastique (14,3,5): | 83.66 | |
| TEMA (21): | 3.0562 | |
| Williams %R (14): | -19.12 | |
| Chande Momentum Oscillator (20): | 0.0092 | |
| Repulse (5,40,3): | 0.0251 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0211 | |
| Courbe Coppock: | 0.82 |
| MA7: | 3.0285 | |
| MA20: | 3.0484 | |
| MA50: | 3.0780 | |
| MA100: | 3.1096 | |
| MAexp7: | 3.0532 | |
| MAexp20: | 3.0487 | |
| MAexp50: | 3.0412 | |
| MAexp100: | 3.0334 | |
| Price / MA7: | +0.83% | |
| Price / MA20: | +0.17% | |
| Price / MA50: | -0.80% | |
| Price / MA100: | -1.80% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.16% | |
| Price / MAexp50: | +0.40% | |
| Price / MAexp100: | +0.66% |
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.
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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