EUR/HKD - 1H - Technical analysis published on 08/30/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Strongly bearish
Technical indicators
50%
6%
44%
My opinion
Bearish under 8.6617 HKD
My targets
8.6246 HKD (-0.0139)
8.5293 HKD (-0.1092)
My analysis
With a strongly bearish trend, the price of EUR/HKD is trying to inflate a little while more or less stagnating in the short term. Is the price preparing for a rebound or a bearish rally recovery? Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 8.6617 HKD remains possible. It would be possible for traders to only trade short positions (for sale) on EUR/HKD as long as the price remains well below 8.6617 HKD. The next bearish objective for sellers is set at 8.6246 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8.5293 HKD. In case of crossing, the next objective would be the support located at 8.4290 HKD.
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
2.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/HKD rating 8.6385 HKD. On the day, this instrument lost -0.01% with the lowest point at 8.6280 HKD and the highest point at 8.6489 HKD. The deviation from the price is +0.12% for the low point and -0.12% for the high point.8.6280
8.6489
8.6385
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
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
A technical analysis in 1H of this EUR/HKD chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: this global trend is showing signs of running out of steam given the neutral signals of short-term moving averages. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bullish signal.
Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
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 which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.5293 | 8.6246 | 8.6349 | 8.6385 | 8.6617 | 8.6813 | 8.7085 |
| Change (%) | -1.26% | -0.16% | -0.04% | - | +0.27% | +0.50% | +0.81% |
| Change | -0.1092 | -0.0139 | -0.0036 | - | +0.0232 | +0.0428 | +0.0700 |
| Level | Intermediate | Minor | Intermediate | - | Minor | 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 | 8.5430 | 8.5813 | 8.6104 | 8.6487 | 8.6778 | 8.7161 | 8.7452 |
| Camarilla | 8.6209 | 8.6270 | 8.6332 | 8.6394 | 8.6456 | 8.6518 | 8.6579 |
| Woodie | 8.5383 | 8.5790 | 8.6057 | 8.6464 | 8.6731 | 8.7138 | 8.7405 |
| Fibonacci | 8.5813 | 8.6071 | 8.6230 | 8.6487 | 8.6745 | 8.6904 | 8.7161 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.4904 | 8.5404 | 8.6324 | 8.6824 | 8.7744 | 8.8244 | 8.9164 |
| Camarilla | 8.6855 | 8.6985 | 8.7115 | 8.7245 | 8.7375 | 8.7505 | 8.7636 |
| Woodie | 8.5115 | 8.5509 | 8.6535 | 8.6929 | 8.7955 | 8.8349 | 8.9375 |
| Fibonacci | 8.5404 | 8.5946 | 8.6281 | 8.6824 | 8.7366 | 8.7701 | 8.8244 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.1870 | 8.2777 | 8.3671 | 8.4578 | 8.5472 | 8.6379 | 8.7273 |
| Camarilla | 8.4069 | 8.4234 | 8.4399 | 8.4564 | 8.4729 | 8.4894 | 8.5059 |
| Woodie | 8.1863 | 8.2774 | 8.3664 | 8.4575 | 8.5465 | 8.6376 | 8.7266 |
| Fibonacci | 8.2777 | 8.3465 | 8.3890 | 8.4578 | 8.5266 | 8.5691 | 8.6379 |
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): | 47.05 | |
| MACD (12,26,9): | -0.0054 | |
| Directional Movement: | -3.2709 | |
| AROON (14): | 42.8572 | |
| DEMA (21): | 8.6317 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.6244 | |
| Elder Ray (13): | 0.0004 | |
| Super Trend (3,10): | 8.6539 | |
| Zig ZAG (10): | 8.6401 | |
| VORTEX (21): | 1.0172 | |
| Stochastique (14,3,5): | 50.40 | |
| TEMA (21): | 8.6352 | |
| Williams %R (14): | -45.45 | |
| Chande Momentum Oscillator (20): | -0.0008 | |
| Repulse (5,40,3): | 0.0056 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0133 | |
| Courbe Coppock: | 0.04 |
| MA7: | 8.6817 | |
| MA20: | 8.6083 | |
| MA50: | 8.5147 | |
| MA100: | 8.4657 | |
| MAexp7: | 8.6381 | |
| MAexp20: | 8.6406 | |
| MAexp50: | 8.6557 | |
| MAexp100: | 8.6678 | |
| Price / MA7: | -0.50% | |
| Price / MA20: | +0.35% | |
| Price / MA50: | +1.45% | |
| Price / MA100: | +2.04% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.20% | |
| Price / MAexp100: | -0.34% |
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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