EUR/HKD - 1H - Technical analysis published on 10/16/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 8.4797 HKD
My targets
8.4412 HKD (-0.0125)
8.3731 HKD (-0.0806)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EUR/HKD as long as the price remains well below 8.4797 HKD. The sellers' bearish objective is set at 8.4412 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8.3731 HKD. In case of crossing, the next objective would be the support located at 8.3406 HKD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.9
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/HKD rating 8.4537 HKD. On the day, this instrument gained +0.00% and was traded between 8.4509 HKD and 8.4640 HKD over the period. The price is currently at +0.03% from its lowest and -0.12% from its highest.8.4509
8.4640
8.4537
Here is a more detailed summary of the historical variations registered by EUR/HKD:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/HKD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
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 support of triangle
Type : Bullish
Timeframe : 1 hour
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
Grip bottom and hammer
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.3731 | 8.4412 | 8.4530 | 8.4537 | 8.4797 | 8.5063 | 8.5296 |
| Change (%) | -0.95% | -0.15% | -0.01% | - | +0.31% | +0.62% | +0.90% |
| Change | -0.0806 | -0.0125 | -0.0007 | - | +0.0260 | +0.0526 | +0.0759 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.4178 | 8.4354 | 8.4447 | 8.4623 | 8.4716 | 8.4892 | 8.4985 |
| Camarilla | 8.4466 | 8.4491 | 8.4515 | 8.4540 | 8.4565 | 8.4589 | 8.4614 |
| Woodie | 8.4137 | 8.4333 | 8.4406 | 8.4602 | 8.4675 | 8.4871 | 8.4944 |
| Fibonacci | 8.4354 | 8.4457 | 8.4520 | 8.4623 | 8.4726 | 8.4789 | 8.4892 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.3872 | 8.4288 | 8.4637 | 8.5053 | 8.5402 | 8.5818 | 8.6167 |
| Camarilla | 8.4777 | 8.4847 | 8.4917 | 8.4987 | 8.5057 | 8.5127 | 8.5197 |
| Woodie | 8.3840 | 8.4271 | 8.4605 | 8.5036 | 8.5370 | 8.5801 | 8.6135 |
| Fibonacci | 8.4288 | 8.4580 | 8.4760 | 8.5053 | 8.5345 | 8.5525 | 8.5818 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.4303 | 8.5053 | 8.5815 | 8.6565 | 8.7327 | 8.8077 | 8.8839 |
| Camarilla | 8.6162 | 8.6301 | 8.6439 | 8.6578 | 8.6717 | 8.6855 | 8.6994 |
| Woodie | 8.4310 | 8.5056 | 8.5822 | 8.6568 | 8.7334 | 8.8080 | 8.8846 |
| Fibonacci | 8.5053 | 8.5630 | 8.5987 | 8.6565 | 8.7142 | 8.7499 | 8.8077 |
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): | 39.24 | |
| MACD (12,26,9): | -0.0031 | |
| Directional Movement: | -12.4279 | |
| AROON (14): | -100.0000 | |
| DEMA (21): | 8.4565 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.4666 | |
| Elder Ray (13): | -0.0045 | |
| Super Trend (3,10): | 8.4726 | |
| Zig ZAG (10): | 8.4531 | |
| VORTEX (21): | 0.8583 | |
| Stochastique (14,3,5): | 30.49 | |
| TEMA (21): | 8.4571 | |
| Williams %R (14): | -78.63 | |
| Chande Momentum Oscillator (20): | -0.0020 | |
| Repulse (5,40,3): | -0.0653 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0055 | |
| Courbe Coppock: | 0.15 |
| MA7: | 8.4866 | |
| MA20: | 8.5822 | |
| MA50: | 8.6093 | |
| MA100: | 8.5287 | |
| MAexp7: | 8.4581 | |
| MAexp20: | 8.4609 | |
| MAexp50: | 8.4686 | |
| MAexp100: | 8.4817 | |
| Price / MA7: | -0.39% | |
| Price / MA20: | -1.50% | |
| Price / MA50: | -1.81% | |
| Price / MA100: | -0.88% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.09% | |
| Price / MAexp50: | -0.18% | |
| Price / MAexp100: | -0.33% |
Quotes :
-
Real time data
-
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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