USD/HKD - 1H - Technical analysis published on 11/10/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 7.8166 HKD
My targets
7.7941 HKD (-0.0156)
7.7853 HKD (-0.0244)
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 7.8166 HKD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 7.7941 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 7.7853 HKD as an objective. Crossing it would then enable sellers to target 7.7691 HKD. If the resistance 7.8166 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.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0.7
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This analysis was given by hannahfreeman. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/HKD price is 7.8097 HKD. On the day, this instrument gained +0.01% and was between 7.8030 HKD and 7.8113 HKD. This implies that the price is at +0.09% from its lowest and at -0.02% from its highest.7.8030
7.8113
7.8097
Here is a more detailed summary of the historical variations registered by USD/HKD:
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
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/HKD chart shows a bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
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 horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.7853 | 7.7941 | 7.8088 | 7.8097 | 7.8109 | 7.8166 | 7.8217 |
| Change (%) | -0.31% | -0.20% | -0.01% | - | +0.02% | +0.09% | +0.15% |
| Change | -0.0244 | -0.0156 | -0.0009 | - | +0.0012 | +0.0069 | +0.0120 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Major | 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 | 7.7970 | 7.8022 | 7.8054 | 7.8106 | 7.8138 | 7.8190 | 7.8222 |
| Camarilla | 7.8063 | 7.8071 | 7.8078 | 7.8086 | 7.8094 | 7.8101 | 7.8109 |
| Woodie | 7.7960 | 7.8017 | 7.8044 | 7.8101 | 7.8128 | 7.8185 | 7.8212 |
| Fibonacci | 7.8022 | 7.8054 | 7.8074 | 7.8106 | 7.8138 | 7.8158 | 7.8190 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.8125 | 7.8161 | 7.8200 | 7.8236 | 7.8275 | 7.8311 | 7.8350 |
| Camarilla | 7.8217 | 7.8224 | 7.8231 | 7.8238 | 7.8245 | 7.8252 | 7.8259 |
| Woodie | 7.8126 | 7.8162 | 7.8201 | 7.8237 | 7.8276 | 7.8312 | 7.8351 |
| Fibonacci | 7.8161 | 7.8190 | 7.8208 | 7.8236 | 7.8265 | 7.8283 | 7.8311 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7969 | 7.8063 | 7.8155 | 7.8249 | 7.8341 | 7.8435 | 7.8527 |
| Camarilla | 7.8195 | 7.8212 | 7.8229 | 7.8246 | 7.8263 | 7.8280 | 7.8297 |
| Woodie | 7.7967 | 7.8063 | 7.8153 | 7.8249 | 7.8339 | 7.8435 | 7.8525 |
| Fibonacci | 7.8063 | 7.8134 | 7.8178 | 7.8249 | 7.8320 | 7.8364 | 7.8435 |
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): | 52.38 | |
| MACD (12,26,9): | -0.0002 | |
| Directional Movement: | -1.9655 | |
| AROON (14): | 57.1428 | |
| DEMA (21): | 7.8083 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.8049 | |
| Elder Ray (13): | 0.0006 | |
| Super Trend (3,10): | 7.8045 | |
| Zig ZAG (10): | 7.8099 | |
| VORTEX (21): | 1.0348 | |
| Stochastique (14,3,5): | 80.32 | |
| TEMA (21): | 7.8094 | |
| Williams %R (14): | -18.07 | |
| Chande Momentum Oscillator (20): | 0.0028 | |
| Repulse (5,40,3): | 0.0100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0014 | |
| Courbe Coppock: | 0.02 |
| MA7: | 7.8174 | |
| MA20: | 7.8209 | |
| MA50: | 7.8250 | |
| MA100: | 7.8242 | |
| MAexp7: | 7.8094 | |
| MAexp20: | 7.8090 | |
| MAexp50: | 7.8109 | |
| MAexp100: | 7.8140 | |
| Price / MA7: | -0.10% | |
| Price / MA20: | -0.14% | |
| Price / MA50: | -0.20% | |
| Price / MA100: | -0.19% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | -0.06% |
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.
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