DKK/HKD - 1H - Technical analysis published on 10/26/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
6%
28%
My opinion
Bearish under 1.1092 HKD
My targets
1.1042 HKD (-0.0028)
1.1027 HKD (-0.0043)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 1.1092 HKD remains possible. It is advisable to trade DKK/HKD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 1.1092 HKD. The next bearish objective for sellers is set at 1.1042 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.1027 HKD. In case of crossing, the next objective would be the support located at 1.0878 HKD. PS: if there is a bullish break in the resistance located at 1.1092 HKD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
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
0.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
DKK/HKD rating 1.1070 HKD. On the day, this instrument lost -0.04% with the lowest point at 1.1027 HKD and the highest point at 1.1077 HKD. The deviation from the price is +0.39% for the low point and -0.06% for the high point.1.1027
1.1077
1.1070
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
A technical analysis in 1H of this DKK/HKD chart shows a bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 1.0878 | 1.1027 | 1.1042 | 1.1070 | 1.1072 | 1.1092 | 1.1119 |
| Change (%) | -1.73% | -0.39% | -0.25% | - | +0.02% | +0.20% | +0.44% |
| Change | -0.0192 | -0.0043 | -0.0028 | - | +0.0002 | +0.0022 | +0.0049 |
| Level | Major | Intermediate | Minor | - | Intermediate | Minor | 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 | 1.1005 | 1.1037 | 1.1055 | 1.1087 | 1.1105 | 1.1137 | 1.1155 |
| Camarilla | 1.1060 | 1.1065 | 1.1069 | 1.1074 | 1.1079 | 1.1083 | 1.1088 |
| Woodie | 1.0999 | 1.1034 | 1.1049 | 1.1084 | 1.1099 | 1.1134 | 1.1149 |
| Fibonacci | 1.1037 | 1.1056 | 1.1068 | 1.1087 | 1.1106 | 1.1118 | 1.1137 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0941 | 1.0983 | 1.1043 | 1.1085 | 1.1145 | 1.1187 | 1.1247 |
| Camarilla | 1.1074 | 1.1083 | 1.1093 | 1.1102 | 1.1111 | 1.1121 | 1.1130 |
| Woodie | 1.0949 | 1.0988 | 1.1051 | 1.1090 | 1.1153 | 1.1192 | 1.1255 |
| Fibonacci | 1.0983 | 1.1022 | 1.1046 | 1.1085 | 1.1124 | 1.1148 | 1.1187 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0467 | 1.0734 | 1.0919 | 1.1186 | 1.1371 | 1.1638 | 1.1823 |
| Camarilla | 1.0979 | 1.1020 | 1.1062 | 1.1103 | 1.1144 | 1.1186 | 1.1227 |
| Woodie | 1.0425 | 1.0714 | 1.0877 | 1.1166 | 1.1329 | 1.1618 | 1.1781 |
| Fibonacci | 1.0734 | 1.0907 | 1.1014 | 1.1186 | 1.1359 | 1.1466 | 1.1638 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 53.81 | |
| MACD (12,26,9): | -0.0003 | |
| Directional Movement: | 5.9628 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 1.1053 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.1033 | |
| Elder Ray (13): | 0.0009 | |
| Super Trend (3,10): | 1.1072 | |
| Zig ZAG (10): | 1.1069 | |
| VORTEX (21): | 1.0103 | |
| Stochastique (14,3,5): | 92.42 | |
| TEMA (21): | 1.1061 | |
| Williams %R (14): | -4.55 | |
| Chande Momentum Oscillator (20): | 0.0025 | |
| Repulse (5,40,3): | 0.0981 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0095 | |
| Courbe Coppock: | 0.17 |
| MA7: | 1.1099 | |
| MA20: | 1.1080 | |
| MA50: | 1.1200 | |
| MA100: | 1.1361 | |
| MAexp7: | 1.1062 | |
| MAexp20: | 1.1060 | |
| MAexp50: | 1.1074 | |
| MAexp100: | 1.1086 | |
| Price / MA7: | -0.26% | |
| Price / MA20: | -0.09% | |
| Price / MA50: | -1.16% | |
| Price / MA100: | -2.56% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | -0.14% |
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.
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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