NZD/MXN - 1H - Technical analysis published on 10/05/2023 (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
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 10.7229 MXN
My targets
10.9251 MXN (+0.1637)
10.9891 MXN (+0.2277)
My analysis
The bullish trend is currently very strong on NZD/MXN. As long as the price remains above the support at 10.7229 MXN, you could try to benefit from the boom. The first bullish objective is located at 10.9251 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 10.9891 MXN as an objective. Crossing it would then enable buyers to target 11.2592 MXN. 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
8.9
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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/MXN price is 10.7614 MXN. On the day, this instrument gained +1.06% and was traded between 10.6445 MXN and 10.7669 MXN over the period. The price is currently at +1.10% from its lowest and -0.05% from its highest.10.6445
10.7669
10.7614
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of NZD/MXN indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 16 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
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 | 10.4577 | 10.5496 | 10.7229 | 10.7614 | 10.7706 | 10.9891 | 11.2592 |
| Change (%) | -2.82% | -1.97% | -0.36% | - | +0.09% | +2.12% | +4.63% |
| Change | -0.3037 | -0.2118 | -0.0385 | - | +0.0092 | +0.2277 | +0.4978 |
| Level | Intermediate | Intermediate | Intermediate | - | Minor | 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 | 10.3842 | 10.4669 | 10.5575 | 10.6402 | 10.7308 | 10.8135 | 10.9041 |
| Camarilla | 10.6004 | 10.6163 | 10.6322 | 10.6481 | 10.6640 | 10.6799 | 10.6958 |
| Woodie | 10.3882 | 10.4689 | 10.5615 | 10.6422 | 10.7348 | 10.8155 | 10.9081 |
| Fibonacci | 10.4669 | 10.5331 | 10.5740 | 10.6402 | 10.7064 | 10.7473 | 10.8135 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.9249 | 10.0706 | 10.2583 | 10.4040 | 10.5917 | 10.7374 | 10.9251 |
| Camarilla | 10.3543 | 10.3849 | 10.4154 | 10.4460 | 10.4766 | 10.5071 | 10.5377 |
| Woodie | 9.9459 | 10.0811 | 10.2793 | 10.4145 | 10.6127 | 10.7479 | 10.9461 |
| Fibonacci | 10.0706 | 10.1980 | 10.2766 | 10.4040 | 10.5314 | 10.6100 | 10.7374 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.6569 | 9.8562 | 10.1511 | 10.3504 | 10.6453 | 10.8446 | 11.1395 |
| Camarilla | 10.3101 | 10.3554 | 10.4007 | 10.4460 | 10.4913 | 10.5366 | 10.5819 |
| Woodie | 9.7047 | 9.8801 | 10.1989 | 10.3743 | 10.6931 | 10.8685 | 11.1873 |
| Fibonacci | 9.8562 | 10.0450 | 10.1616 | 10.3504 | 10.5392 | 10.6558 | 10.8446 |
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): | 67.33 | |
| MACD (12,26,9): | 0.0236 | |
| Directional Movement: | 12.9599 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 10.7008 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.6554 | |
| Elder Ray (13): | 0.0357 | |
| Super Trend (3,10): | 10.6315 | |
| Zig ZAG (10): | 10.7265 | |
| VORTEX (21): | 1.1976 | |
| Stochastique (14,3,5): | 92.30 | |
| TEMA (21): | 10.7031 | |
| Williams %R (14): | -5.97 | |
| Chande Momentum Oscillator (20): | 0.0810 | |
| Repulse (5,40,3): | 0.4006 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0238 | |
| Courbe Coppock: | 1.20 |
| MA7: | 10.5588 | |
| MA20: | 10.3348 | |
| MA50: | 10.2558 | |
| MA100: | 10.4395 | |
| MAexp7: | 10.7000 | |
| MAexp20: | 10.6703 | |
| MAexp50: | 10.6260 | |
| MAexp100: | 10.5689 | |
| Price / MA7: | +1.92% | |
| Price / MA20: | +4.13% | |
| Price / MA50: | +4.93% | |
| Price / MA100: | +3.08% | |
| Price / MAexp7: | +0.57% | |
| Price / MAexp20: | +0.85% | |
| Price / MAexp50: | +1.27% | |
| Price / MAexp100: | +1.82% |
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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