CAD/PLN - Daily - Technical analysis published on 07/31/2023 (GMT)
- 130
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
17%
44%
My opinion
Bearish under 3.0939 PLN
My targets
2.9481 PLN (-0.0729)
2.9030 PLN (-0.1180)
My analysis
CAD/PLN is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 3.0939 PLN. The next support located at 2.9481 PLN is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 2.9030 PLN. Below this support, sellers could then target 2.7110 PLN. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
5.4
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Additional analysis
Quotes
The CAD/PLN rating is 3.0210 PLN. On the day, this instrument gained +0.00% with the lowest point at 3.0200 PLN and the highest point at 3.0216 PLN. The deviation from the price is +0.03% for the low point and -0.02% for the high point.3.0200
3.0216
3.0210
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
Technical analysis of this Daily chart of CAD/PLN indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, only 7 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal support
Type : Bullish
Timeframe : Daily
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 | 2.4739 | 2.7110 | 2.9030 | 3.0210 | 3.0238 | 3.1375 | 3.1987 |
| Change (%) | -18.11% | -10.26% | -3.91% | - | +0.09% | +3.86% | +5.88% |
| Change | -0.5471 | -0.3100 | -0.1180 | - | +0.0028 | +0.1165 | +0.1777 |
| Level | Minor | Major | Minor | - | Major | Intermediate | Major |
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 | 3.0122 | 3.0165 | 3.0188 | 3.0231 | 3.0254 | 3.0297 | 3.0320 |
| Camarilla | 3.0193 | 3.0199 | 3.0205 | 3.0211 | 3.0217 | 3.0223 | 3.0229 |
| Woodie | 3.0112 | 3.0160 | 3.0178 | 3.0226 | 3.0244 | 3.0292 | 3.0310 |
| Fibonacci | 3.0165 | 3.0190 | 3.0206 | 3.0231 | 3.0256 | 3.0272 | 3.0297 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.9574 | 2.9842 | 3.0036 | 3.0304 | 3.0498 | 3.0766 | 3.0960 |
| Camarilla | 3.0102 | 3.0144 | 3.0187 | 3.0229 | 3.0271 | 3.0314 | 3.0356 |
| Woodie | 2.9536 | 2.9824 | 2.9998 | 3.0286 | 3.0460 | 3.0748 | 3.0922 |
| Fibonacci | 2.9842 | 3.0019 | 3.0128 | 3.0304 | 3.0481 | 3.0590 | 3.0766 |
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): | 42.90 | |
| MACD (12,26,9): | -0.0126 | |
| Directional Movement: | -2.1768 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 3.0200 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.0074 | |
| Elder Ray (13): | -0.0108 | |
| Super Trend (3,10): | 3.0842 | |
| Zig ZAG (10): | 3.0208 | |
| VORTEX (21): | 0.9207 | |
| Stochastique (14,3,5): | 52.10 | |
| TEMA (21): | 3.0198 | |
| Williams %R (14): | -48.27 | |
| Chande Momentum Oscillator (20): | 0.0215 | |
| Repulse (5,40,3): | -0.3713 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0695 | |
| Courbe Coppock: | 0.74 |
| MA7: | 3.0330 | |
| MA20: | 3.0343 | |
| MA50: | 3.0704 | |
| MA100: | 3.1011 | |
| MAexp7: | 3.0276 | |
| MAexp20: | 3.0377 | |
| MAexp50: | 3.0640 | |
| MAexp100: | 3.1120 | |
| Price / MA7: | -0.40% | |
| Price / MA20: | -0.44% | |
| Price / MA50: | -1.61% | |
| Price / MA100: | -2.58% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -0.55% | |
| Price / MAexp50: | -1.40% | |
| Price / MAexp100: | -2.92% |
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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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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