GBP/HUF - 1H - Technical analysis published on 12/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 500.44 HUF
My targets
501.69 HUF (+0.71)
506.43 HUF (+5.45)
My analysis
The bullish trend is currently very strong on GBP/HUF. As long as the price remains above the support at 500.44 HUF, you could try to benefit from the boom. The first bullish objective is located at 501.69 HUF. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 506.43 HUF as an objective. Crossing it would then enable buyers to target 512.43 HUF. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/HUF price is 500.98 HUF. The price registered an increase of +0.81% on the session and was between 497.58 HUF and 501.61 HUF. This implies that the price is at +0.68% from its lowest and at -0.13% from its highest.497.58
501.61
500.98
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/HUF in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 14 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
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:
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
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 496.12 | 497.47 | 500.44 | 500.98 |
| Change (%) | -0.97% | -0.70% | -0.11% | - |
| Change | -4.86 | -3.51 | -0.54 | - |
| Level | Major | Intermediate | Minor | - |
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 | 491.38 | 492.97 | 494.96 | 496.55 | 498.54 | 500.13 | 502.12 |
| Camarilla | 495.96 | 496.28 | 496.61 | 496.94 | 497.27 | 497.60 | 497.93 |
| Woodie | 491.57 | 493.07 | 495.15 | 496.65 | 498.73 | 500.23 | 502.31 |
| Fibonacci | 492.97 | 494.34 | 495.19 | 496.55 | 497.92 | 498.77 | 500.13 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 480.21 | 484.95 | 490.95 | 495.69 | 501.69 | 506.43 | 512.43 |
| Camarilla | 493.99 | 494.97 | 495.96 | 496.94 | 497.93 | 498.91 | 499.89 |
| Woodie | 480.83 | 485.27 | 491.57 | 496.01 | 502.31 | 506.75 | 513.05 |
| Fibonacci | 484.95 | 489.06 | 491.59 | 495.69 | 499.80 | 502.33 | 506.43 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 469.76 | 476.59 | 486.77 | 493.60 | 503.78 | 510.61 | 520.79 |
| Camarilla | 492.26 | 493.82 | 495.38 | 496.94 | 498.50 | 500.06 | 501.62 |
| Woodie | 471.43 | 477.43 | 488.44 | 494.44 | 505.45 | 511.45 | 522.46 |
| Fibonacci | 476.59 | 483.09 | 487.11 | 493.60 | 500.10 | 504.12 | 510.61 |
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): | 66.89 | |
| MACD (12,26,9): | 1.0300 | |
| Directional Movement: | 17.43 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 500.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 499.76 | |
| Elder Ray (13): | 0.87 | |
| Super Trend (3,10): | 497.99 | |
| Zig ZAG (10): | 500.33 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 71.14 | |
| TEMA (21): | 500.87 | |
| Williams %R (14): | -31.02 | |
| Chande Momentum Oscillator (20): | 2.54 | |
| Repulse (5,40,3): | 0.0400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 1.06 |
| MA7: | 495.53 | |
| MA20: | 492.14 | |
| MA50: | 485.15 | |
| MA100: | 475.38 | |
| MAexp7: | 500.28 | |
| MAexp20: | 499.11 | |
| MAexp50: | 497.65 | |
| MAexp100: | 496.15 | |
| Price / MA7: | +1.10% | |
| Price / MA20: | +1.80% | |
| Price / MA50: | +3.26% | |
| Price / MA100: | +5.39% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.37% | |
| Price / MAexp50: | +0.67% | |
| Price / MAexp100: | +0.97% |
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.
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