USD/HKD - Daily - Technical analysis published on 08/09/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 7.8295 HKD
My targets
7.7970 HKD (-0.0169)
7.7674 HKD (-0.0465)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on USD/HKD. As long as you are under the resistance located at 7.8295 HKD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 7.7970 HKD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 7.7674 HKD as an objective. Crossing it would then enable sellers to target 7.7499 HKD. If the resistance 7.8295 HKD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.4
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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 USD/HKD price is 7.8139 HKD. The price registered an increase of +0.00% on the session and was between 7.8133 HKD and 7.8147 HKD. This implies that the price is at +0.01% from its lowest and at -0.01% from its highest.7.8133
7.8147
7.8139
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
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
A technical analysis in Daily of this USD/HKD chart shows a bearish trend. The signals given by moving averages are 75.00% bearish. This bearish trend could slow down given the neutral 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.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 7.7851 | 7.7970 | 7.8088 | 7.8139 | 7.8166 | 7.8295 | 7.8376 |
| Change (%) | -0.37% | -0.22% | -0.07% | - | +0.03% | +0.20% | +0.30% |
| Change | -0.0288 | -0.0169 | -0.0051 | - | +0.0027 | +0.0156 | +0.0237 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Major | 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 | 7.7999 | 7.8030 | 7.8085 | 7.8116 | 7.8171 | 7.8202 | 7.8257 |
| Camarilla | 7.8117 | 7.8125 | 7.8133 | 7.8141 | 7.8149 | 7.8157 | 7.8165 |
| Woodie | 7.8012 | 7.8036 | 7.8098 | 7.8122 | 7.8184 | 7.8208 | 7.8270 |
| Fibonacci | 7.8030 | 7.8063 | 7.8083 | 7.8116 | 7.8149 | 7.8169 | 7.8202 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7789 | 7.7856 | 7.7985 | 7.8052 | 7.8181 | 7.8248 | 7.8377 |
| Camarilla | 7.8059 | 7.8077 | 7.8095 | 7.8113 | 7.8131 | 7.8149 | 7.8167 |
| Woodie | 7.7819 | 7.7872 | 7.8015 | 7.8068 | 7.8211 | 7.8264 | 7.8407 |
| Fibonacci | 7.7856 | 7.7931 | 7.7978 | 7.8052 | 7.8127 | 7.8174 | 7.8248 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7379 | 7.7659 | 7.7819 | 7.8099 | 7.8259 | 7.8539 | 7.8699 |
| Camarilla | 7.7858 | 7.7898 | 7.7939 | 7.7979 | 7.8019 | 7.8060 | 7.8100 |
| Woodie | 7.7319 | 7.7629 | 7.7759 | 7.8069 | 7.8199 | 7.8509 | 7.8639 |
| Fibonacci | 7.7659 | 7.7827 | 7.7931 | 7.8099 | 7.8267 | 7.8371 | 7.8539 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.85 | |
| MACD (12,26,9): | -0.0039 | |
| Directional Movement: | -4.9097 | |
| AROON (14): | -42.8572 | |
| DEMA (21): | 7.8048 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.7940 | |
| Elder Ray (13): | 0.0050 | |
| Super Trend (3,10): | 7.8212 | |
| Zig ZAG (10): | 7.8140 | |
| VORTEX (21): | 0.9333 | |
| Stochastique (14,3,5): | 74.94 | |
| TEMA (21): | 7.8056 | |
| Williams %R (14): | -16.67 | |
| Chande Momentum Oscillator (20): | 0.0003 | |
| Repulse (5,40,3): | 0.1037 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0109 | |
| Courbe Coppock: | 0.18 |
| MA7: | 7.8072 | |
| MA20: | 7.8089 | |
| MA50: | 7.8220 | |
| MA100: | 7.8328 | |
| MAexp7: | 7.8093 | |
| MAexp20: | 7.8108 | |
| MAexp50: | 7.8193 | |
| MAexp100: | 7.8268 | |
| Price / MA7: | +0.09% | |
| Price / MA20: | +0.06% | |
| Price / MA50: | -0.10% | |
| Price / MA100: | -0.24% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.07% | |
| Price / MAexp100: | -0.16% |
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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