NZD/MXN - Daily - Technical analysis published on 08/27/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 10.1434 MXN
My targets
9.5429 MXN (-0.3462)
8.7476 MXN (-1.1415)
My analysis
NZD/MXN is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 10.1434 MXN. The next support located at 9.5429 MXN is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 8.7476 MXN. Below this support, sellers could then target 6.9315 MXN. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
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
NZD/MXN rating 9.8891 MXN. The price registered a decrease of -0.01% on the session and was between 9.8715 MXN and 9.8977 MXN. This implies that the price is at +0.18% from its lowest and at -0.09% from its highest.9.8715
9.8977
9.8891
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:
New LOW record (5 years)
Type : Bearish
Timeframe : Weekly
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this NZD/MXN chart shows a sharp 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.
In fact, 13 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal support
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish doji star
Type : Bullish
Timeframe : Daily
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 6.9315 | 8.7476 | 9.8891 | 9.9003 | 10.3843 | 11.2592 |
| Change (%) | -29.91% | -11.54% | - | +0.11% | +5.01% | +13.85% |
| Change | -2.9576 | -1.1415 | - | +0.0112 | +0.4952 | +1.3701 |
| Level | Minor | Intermediate | - | Intermediate | 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 | 9.7588 | 9.8174 | 9.8535 | 9.9121 | 9.9482 | 10.0068 | 10.0429 |
| Camarilla | 9.8637 | 9.8723 | 9.8810 | 9.8897 | 9.8984 | 9.9071 | 9.9157 |
| Woodie | 9.7477 | 9.8118 | 9.8424 | 9.9065 | 9.9371 | 10.0012 | 10.0318 |
| Fibonacci | 9.8174 | 9.8535 | 9.8759 | 9.9121 | 9.9482 | 9.9706 | 10.0068 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.5551 | 9.7155 | 9.8026 | 9.9630 | 10.0501 | 10.2105 | 10.2976 |
| Camarilla | 9.8216 | 9.8443 | 9.8670 | 9.8897 | 9.9124 | 9.9351 | 9.9578 |
| Woodie | 9.5185 | 9.6972 | 9.7660 | 9.9447 | 10.0135 | 10.1922 | 10.2610 |
| Fibonacci | 9.7155 | 9.8101 | 9.8685 | 9.9630 | 10.0576 | 10.1160 | 10.2105 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.5429 | 9.8944 | 10.1434 | 10.4949 | 10.7439 | 11.0954 | 11.3444 |
| Camarilla | 10.2274 | 10.2824 | 10.3375 | 10.3925 | 10.4476 | 10.5026 | 10.5576 |
| Woodie | 9.4918 | 9.8688 | 10.0923 | 10.4693 | 10.6928 | 11.0698 | 11.2933 |
| Fibonacci | 9.8944 | 10.1238 | 10.2655 | 10.4949 | 10.7243 | 10.8660 | 11.0954 |
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): | 24.59 | |
| MACD (12,26,9): | -0.1434 | |
| Directional Movement: | -21.4074 | |
| AROON (14): | -100.0000 | |
| DEMA (21): | 9.9797 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.1484 | |
| Elder Ray (13): | -0.1954 | |
| Super Trend (3,10): | 10.1772 | |
| Zig ZAG (10): | 9.8929 | |
| VORTEX (21): | 0.8388 | |
| Stochastique (14,3,5): | 3.54 | |
| TEMA (21): | 9.9195 | |
| Williams %R (14): | -96.18 | |
| Chande Momentum Oscillator (20): | -0.3735 | |
| Repulse (5,40,3): | -1.1347 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1609 | |
| Courbe Coppock: | 7.18 |
| MA7: | 10.0028 | |
| MA20: | 10.1992 | |
| MA50: | 10.3995 | |
| MA100: | 10.6735 | |
| MAexp7: | 9.9930 | |
| MAexp20: | 10.1574 | |
| MAexp50: | 10.3753 | |
| MAexp100: | 10.6488 | |
| Price / MA7: | -1.14% | |
| Price / MA20: | -3.04% | |
| Price / MA50: | -4.91% | |
| Price / MA100: | -7.35% | |
| Price / MAexp7: | -1.04% | |
| Price / MAexp20: | -2.64% | |
| Price / MAexp50: | -4.68% | |
| Price / MAexp100: | -7.13% |
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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