GBP/SGD - 1H - Technical analysis published on 10/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
50%
17%
My opinion
Bearish under 1.7097 SGD
My targets
1.7030 SGD (-0.0022)
1.7011 SGD (-0.0041)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/SGD as long as the price remains well below 1.7097 SGD. The sellers' bearish objective is set at 1.7030 SGD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.7011 SGD. In case of crossing, the next objective would be the support located at 1.6978 SGD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/SGD rating 1.7052 SGD. The price is lower by -0.04% since the last closing with the lowest point at 1.7028 SGD and the highest point at 1.7077 SGD. The deviation from the price is +0.14% for the low point and -0.15% for the high point.1.7028
1.7077
1.7052
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/SGD in 1H shows a overall strongly bearish trend. 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 market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
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 several results that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Horizontal support is broken
Type : Bearish
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 | 1.7011 | 1.7030 | 1.7050 | 1.7052 | 1.7097 | 1.7135 | 1.7165 |
| Change (%) | -0.24% | -0.13% | -0.01% | - | +0.26% | +0.49% | +0.66% |
| Change | -0.0041 | -0.0022 | -0.0002 | - | +0.0045 | +0.0083 | +0.0113 |
| Level | Intermediate | Major | Minor | - | Major | Intermediate | Intermediate |
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 | 1.6936 | 1.6987 | 1.7023 | 1.7074 | 1.7110 | 1.7161 | 1.7197 |
| Camarilla | 1.7034 | 1.7042 | 1.7050 | 1.7058 | 1.7066 | 1.7074 | 1.7082 |
| Woodie | 1.6928 | 1.6983 | 1.7015 | 1.7070 | 1.7102 | 1.7157 | 1.7189 |
| Fibonacci | 1.6987 | 1.7021 | 1.7041 | 1.7074 | 1.7108 | 1.7128 | 1.7161 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6753 | 1.6865 | 1.6990 | 1.7102 | 1.7227 | 1.7339 | 1.7464 |
| Camarilla | 1.7049 | 1.7071 | 1.7092 | 1.7114 | 1.7136 | 1.7158 | 1.7179 |
| Woodie | 1.6759 | 1.6868 | 1.6996 | 1.7105 | 1.7233 | 1.7342 | 1.7470 |
| Fibonacci | 1.6865 | 1.6956 | 1.7012 | 1.7102 | 1.7193 | 1.7249 | 1.7339 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6731 | 1.6845 | 1.7019 | 1.7133 | 1.7307 | 1.7421 | 1.7595 |
| Camarilla | 1.7113 | 1.7139 | 1.7166 | 1.7192 | 1.7218 | 1.7245 | 1.7271 |
| Woodie | 1.6760 | 1.6860 | 1.7048 | 1.7148 | 1.7336 | 1.7436 | 1.7624 |
| Fibonacci | 1.6845 | 1.6955 | 1.7023 | 1.7133 | 1.7243 | 1.7311 | 1.7421 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 41.69 | |
| MACD (12,26,9): | -0.0005 | |
| Directional Movement: | -4.7612 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.7050 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7072 | |
| Elder Ray (13): | -0.0007 | |
| Super Trend (3,10): | 1.7086 | |
| Zig ZAG (10): | 1.7046 | |
| VORTEX (21): | 0.9832 | |
| Stochastique (14,3,5): | 20.87 | |
| TEMA (21): | 1.7049 | |
| Williams %R (14): | -85.71 | |
| Chande Momentum Oscillator (20): | -0.0018 | |
| Repulse (5,40,3): | -0.0631 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0034 | |
| Courbe Coppock: | 0.01 |
| MA7: | 1.7066 | |
| MA20: | 1.7126 | |
| MA50: | 1.7080 | |
| MA100: | 1.7160 | |
| MAexp7: | 1.7050 | |
| MAexp20: | 1.7055 | |
| MAexp50: | 1.7063 | |
| MAexp100: | 1.7070 | |
| Price / MA7: | -0.08% | |
| Price / MA20: | -0.43% | |
| Price / MA50: | -0.16% | |
| Price / MA100: | -0.63% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | -0.11% |
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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