USD/HKD - 1H - Technical analysis published on 08/28/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 7.7987 HKD
My targets
7.8088 HKD (+0.0080)
7.8222 HKD (+0.0214)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/HKD as long as the price remains well above 7.7987 HKD. The buyers' bullish objective is set at 7.8088 HKD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.8222 HKD. If there is any crossing, the next objective would be the resistance located at 7.8264 HKD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/HKD rating 7.8008 HKD. The price registered a decrease of -0.01% on the session with the lowest point at 7.7980 HKD and the highest point at 7.8027 HKD. The deviation from the price is +0.04% for the low point and -0.02% for the high point.7.7980
7.8027
7.8008
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 1H of this USD/HKD chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 14 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.7945 | 7.7987 | 7.8006 | 7.8008 | 7.8028 | 7.8088 | 7.8140 |
| Change (%) | -0.08% | -0.03% | +0.00% | - | +0.03% | +0.10% | +0.17% |
| Change | -0.0063 | -0.0021 | -0.0002 | - | +0.0020 | +0.0080 | +0.0132 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7919 | 7.7943 | 7.7980 | 7.8004 | 7.8041 | 7.8065 | 7.8102 |
| Camarilla | 7.8000 | 7.8006 | 7.8011 | 7.8017 | 7.8023 | 7.8028 | 7.8034 |
| Woodie | 7.7926 | 7.7946 | 7.7987 | 7.8007 | 7.8048 | 7.8068 | 7.8109 |
| Fibonacci | 7.7943 | 7.7966 | 7.7981 | 7.8004 | 7.8027 | 7.8042 | 7.8065 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7725 | 7.7791 | 7.7875 | 7.7941 | 7.8025 | 7.8091 | 7.8175 |
| Camarilla | 7.7919 | 7.7933 | 7.7946 | 7.7960 | 7.7974 | 7.7988 | 7.8001 |
| Woodie | 7.7735 | 7.7796 | 7.7885 | 7.7946 | 7.8035 | 7.8096 | 7.8185 |
| Fibonacci | 7.7791 | 7.7848 | 7.7883 | 7.7941 | 7.7998 | 7.8033 | 7.8091 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7940 | 7.7985 | 7.8056 | 7.8101 | 7.8172 | 7.8217 | 7.8288 |
| Camarilla | 7.8094 | 7.8105 | 7.8115 | 7.8126 | 7.8137 | 7.8147 | 7.8158 |
| Woodie | 7.7952 | 7.7992 | 7.8068 | 7.8108 | 7.8184 | 7.8224 | 7.8300 |
| Fibonacci | 7.7985 | 7.8030 | 7.8057 | 7.8101 | 7.8146 | 7.8173 | 7.8217 |
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): | 56.35 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | 9.2922 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 7.8003 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.7981 | |
| Elder Ray (13): | 0.0006 | |
| Super Trend (3,10): | 7.8024 | |
| Zig ZAG (10): | 7.8006 | |
| VORTEX (21): | 0.9522 | |
| Stochastique (14,3,5): | 72.76 | |
| TEMA (21): | 7.8002 | |
| Williams %R (14): | -28.13 | |
| Chande Momentum Oscillator (20): | 0.0011 | |
| Repulse (5,40,3): | 0.0110 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0001 | |
| Courbe Coppock: | 0.02 |
| MA7: | 7.7962 | |
| MA20: | 7.7960 | |
| MA50: | 7.8039 | |
| MA100: | 7.8104 | |
| MAexp7: | 7.8004 | |
| MAexp20: | 7.8002 | |
| MAexp50: | 7.7997 | |
| MAexp100: | 7.7984 | |
| Price / MA7: | +0.06% | |
| Price / MA20: | +0.06% | |
| Price / MA50: | -0.04% | |
| Price / MA100: | -0.12% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | +0.01% | |
| Price / MAexp100: | +0.03% |
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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