GBP/MXN - 1H - Technical analysis published on 10/01/2019 (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
Court terme:
Neutral
De fond:
Bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 24.2211 MXN
My targets
24.2566 MXN (+0.02%)
24.3039 MXN (+0.21%)
My analysis
Has the basic bullish 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 bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 24.2211 MXN remains possible. It is advisable to trade GBP/MXN with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 24.2211 MXN. The next bullish objective for buyers is set at 24.2566 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 24.3039 MXN. If there is any crossing, the next objective would be the resistance located at 24.3948 MXN. PS: if there is a bearish break in the support located at 24.2211 MXN we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
4.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/MXN rating 24.2526 MXN. The price is lower by -0.01% since the last closing and was traded between 24.2284 MXN and 24.2863 MXN over the period. The price is currently at +0.10% from its lowest and -0.14% from its highest.24.2284
24.2863
24.2526
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
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 (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/MXN indicates that the overall trend is bullish. 67.86% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
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 | 24.1139 | 24.1801 | 24.2211 | 24.2526 | 24.2566 | 24.3039 | 24.3948 |
| Change (%) | -0.57% | -0.30% | -0.13% | - | +0.02% | +0.21% | +0.59% |
| Change | -0.1387 | -0.0725 | -0.0315 | - | +0.0040 | +0.0513 | +0.1422 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Intermediate | Intermediate |
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 | 23.9851 | 24.0826 | 24.1688 | 24.2663 | 24.3525 | 24.4500 | 24.5362 |
| Camarilla | 24.2045 | 24.2213 | 24.2382 | 24.2550 | 24.2718 | 24.2887 | 24.3055 |
| Woodie | 23.9795 | 24.0798 | 24.1632 | 24.2635 | 24.3469 | 24.4472 | 24.5306 |
| Fibonacci | 24.0826 | 24.1528 | 24.1961 | 24.2663 | 24.3365 | 24.3798 | 24.4500 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.7563 | 23.9180 | 24.0616 | 24.2233 | 24.3669 | 24.5286 | 24.6722 |
| Camarilla | 24.1213 | 24.1493 | 24.1773 | 24.2053 | 24.2333 | 24.2613 | 24.2893 |
| Woodie | 23.7474 | 23.9135 | 24.0527 | 24.2188 | 24.3580 | 24.5241 | 24.6633 |
| Fibonacci | 23.9180 | 24.0346 | 24.1066 | 24.2233 | 24.3399 | 24.4119 | 24.5286 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.2799 | 23.5668 | 23.9109 | 24.1978 | 24.5419 | 24.8288 | 25.1729 |
| Camarilla | 24.0815 | 24.1393 | 24.1972 | 24.2550 | 24.3128 | 24.3707 | 24.4285 |
| Woodie | 23.3085 | 23.5811 | 23.9395 | 24.2121 | 24.5705 | 24.8431 | 25.2015 |
| Fibonacci | 23.5668 | 23.8078 | 23.9568 | 24.1978 | 24.4388 | 24.5878 | 24.8288 |
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): | 56.86 | |
| MACD (12,26,9): | 0.0075 | |
| Directional Movement: | 3.8107 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 24.2664 | |
| Parabolic SAR (0,02-0,02-0,2): | 24.3025 | |
| Elder Ray (13): | 0.0238 | |
| Super Trend (3,10): | 24.1958 | |
| Zig ZAG (10): | 24.2830 | |
| VORTEX (21): | 1.0524 | |
| Stochastique (14,3,5): | 70.83 | |
| TEMA (21): | 24.2692 | |
| Williams %R (14): | -12.96 | |
| Chande Momentum Oscillator (20): | 0.0103 | |
| Repulse (5,40,3): | 0.1008 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0053 | |
| Courbe Coppock: | 0.05 |
| MA7: | 24.2378 | |
| MA20: | 24.1912 | |
| MA50: | 24.0009 | |
| MA100: | 24.1083 | |
| MAexp7: | 24.2638 | |
| MAexp20: | 24.2540 | |
| MAexp50: | 24.2399 | |
| MAexp100: | 24.2325 | |
| Price / MA7: | +0.06% | |
| Price / MA20: | +0.25% | |
| Price / MA50: | +1.05% | |
| Price / MA100: | +0.60% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | +0.05% | |
| Price / MAexp100: | +0.08% |
This member declared not having a position on this financial instrument or a related financial instrument.
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