NZD/HKD - Daily - Technical analysis published on 08/07/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
56%
33%
My opinion
Bearish under 4.8555 HKD
My targets
4.7168 HKD (-0.0469)
4.6194 HKD (-0.1443)
My analysis
The bearish trend is currently very strong for NZD/HKD. As long as the price remains below the resistance at 4.8555 HKD, you could try to take advantage of the bearish rally. The first bearish objective is located at 4.7168 HKD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 4.6194 HKD as an objective. Crossing it would then enable sellers to target 4.5285 HKD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
6.4
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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 NZD/HKD price is 4.7637 HKD. The price is lower by -0.01% since the last closing and was traded between 4.7505 HKD and 4.7739 HKD over the period. The price is currently at +0.28% from its lowest and -0.21% from its highest.4.7505
4.7739
4.7637
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NZD/HKD in Daily shows a overall strongly bearish trend. The signals given by moving averages are 82.14% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.5285 | 4.6194 | 4.7168 | 4.7637 | 4.8555 | 4.9973 | 5.1040 |
| Change (%) | -4.94% | -3.03% | -0.98% | - | +1.93% | +4.90% | +7.14% |
| Change | -0.2352 | -0.1443 | -0.0469 | - | +0.0918 | +0.2336 | +0.3403 |
| Level | Minor | Intermediate | Major | - | Major | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.6897 | 4.7149 | 4.7395 | 4.7647 | 4.7893 | 4.8145 | 4.8391 |
| Camarilla | 4.7504 | 4.7550 | 4.7595 | 4.7641 | 4.7687 | 4.7732 | 4.7778 |
| Woodie | 4.6894 | 4.7148 | 4.7392 | 4.7646 | 4.7890 | 4.8144 | 4.8388 |
| Fibonacci | 4.7149 | 4.7339 | 4.7457 | 4.7647 | 4.7837 | 4.7955 | 4.8145 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.5858 | 4.6581 | 4.7111 | 4.7834 | 4.8364 | 4.9087 | 4.9617 |
| Camarilla | 4.7296 | 4.7411 | 4.7526 | 4.7641 | 4.7756 | 4.7871 | 4.7986 |
| Woodie | 4.5762 | 4.6533 | 4.7015 | 4.7786 | 4.8268 | 4.9039 | 4.9521 |
| Fibonacci | 4.6581 | 4.7060 | 4.7355 | 4.7834 | 4.8313 | 4.8608 | 4.9087 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.4983 | 4.6359 | 4.7364 | 4.8740 | 4.9745 | 5.1121 | 5.2126 |
| Camarilla | 4.7715 | 4.7934 | 4.8152 | 4.8370 | 4.8588 | 4.8807 | 4.9025 |
| Woodie | 4.4799 | 4.6266 | 4.7180 | 4.8647 | 4.9561 | 5.1028 | 5.1942 |
| Fibonacci | 4.6359 | 4.7268 | 4.7830 | 4.8740 | 4.9649 | 5.0211 | 5.1121 |
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): | 40.22 | |
| MACD (12,26,9): | -0.0241 | |
| Directional Movement: | -6.0829 | |
| AROON (14): | -85.7143 | |
| DEMA (21): | 4.7936 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.8380 | |
| Elder Ray (13): | -0.0408 | |
| Super Trend (3,10): | 4.9052 | |
| Zig ZAG (10): | 4.7626 | |
| VORTEX (21): | 0.9434 | |
| Stochastique (14,3,5): | 12.76 | |
| TEMA (21): | 4.7677 | |
| Williams %R (14): | -83.55 | |
| Chande Momentum Oscillator (20): | -0.1053 | |
| Repulse (5,40,3): | -0.3304 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0241 | |
| Courbe Coppock: | 5.35 |
| MA7: | 4.7781 | |
| MA20: | 4.8508 | |
| MA50: | 4.8247 | |
| MA100: | 4.8520 | |
| MAexp7: | 4.7796 | |
| MAexp20: | 4.8176 | |
| MAexp50: | 4.8348 | |
| MAexp100: | 4.8435 | |
| Price / MA7: | -0.30% | |
| Price / MA20: | -1.80% | |
| Price / MA50: | -1.26% | |
| Price / MA100: | -1.82% | |
| Price / MAexp7: | -0.33% | |
| Price / MAexp20: | -1.12% | |
| Price / MAexp50: | -1.47% | |
| Price / MAexp100: | -1.65% |
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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