EUR/CNH - 1H - Technical analysis published on 06/28/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 7.90759 CNH
My targets
7.96937 CNH (+0.05238)
8.02920 CNH (+0.11221)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 7.90759 CNH remains possible. It is advisable to trade EUR/CNH with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 7.90759 CNH. The next bullish objective for buyers is set at 7.96937 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.02920 CNH. If there is any crossing, the next objective would be the resistance located at 8.08824 CNH. PS: if there is a bearish break in the support located at 7.90759 CNH we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.4
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Additional analysis
Quotes
The EUR/CNH rating is 7.91699 CNH. On the day, this instrument gained +0.00% and was traded between 7.90133 CNH and 7.95362 CNH over the period. The price is currently at +0.20% from its lowest and -0.46% from its highest.7.90133
7.95362
7.91699
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/CNH indicates that the overall trend is bullish. The signals given by moving averages are 78.57% bullish. This bullish 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, 14 technical indicators on 18 studied are currently positioned bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
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
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.84305 | 7.87410 | 7.90759 | 7.91699 | 7.92265 | 8.08824 | 8.30641 |
| Change (%) | -0.93% | -0.54% | -0.12% | - | +0.07% | +2.16% | +4.92% |
| Change | -0.07394 | -0.04289 | -0.00940 | - | +0.00566 | +0.17125 | +0.38942 |
| Level | Intermediate | Minor | Major | - | Intermediate | Minor | Major |
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 | 7.83819 | 7.85614 | 7.88674 | 7.90469 | 7.93529 | 7.95324 | 7.98384 |
| Camarilla | 7.90398 | 7.90843 | 7.91288 | 7.91733 | 7.92178 | 7.92623 | 7.93068 |
| Woodie | 7.84451 | 7.85930 | 7.89306 | 7.90785 | 7.94161 | 7.95640 | 7.99016 |
| Fibonacci | 7.85614 | 7.87469 | 7.88615 | 7.90469 | 7.92324 | 7.93470 | 7.95324 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.68543 | 7.74019 | 7.80002 | 7.85478 | 7.91461 | 7.96937 | 8.02920 |
| Camarilla | 7.82833 | 7.83883 | 7.84934 | 7.85984 | 7.87034 | 7.88085 | 7.89135 |
| Woodie | 7.68796 | 7.74146 | 7.80255 | 7.85605 | 7.91714 | 7.97064 | 8.03173 |
| Fibonacci | 7.74019 | 7.78397 | 7.81101 | 7.85478 | 7.89856 | 7.92560 | 7.96937 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.44964 | 7.50446 | 7.55752 | 7.61234 | 7.66540 | 7.72022 | 7.77328 |
| Camarilla | 7.58092 | 7.59081 | 7.60070 | 7.61059 | 7.62048 | 7.63037 | 7.64026 |
| Woodie | 7.44877 | 7.50402 | 7.55665 | 7.61190 | 7.66453 | 7.71978 | 7.77241 |
| Fibonacci | 7.50446 | 7.54567 | 7.57113 | 7.61234 | 7.65355 | 7.67901 | 7.72022 |
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): | 70.69 | |
| MACD (12,26,9): | 0.0096 | |
| Directional Movement: | 14.76245 | |
| AROON (14): | 50.00000 | |
| DEMA (21): | 7.93421 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.91696 | |
| Elder Ray (13): | 0.01657 | |
| Super Trend (3,10): | 7.91241 | |
| Zig ZAG (10): | 7.94613 | |
| VORTEX (21): | 1.2110 | |
| Stochastique (14,3,5): | 90.30 | |
| TEMA (21): | 7.93773 | |
| Williams %R (14): | -9.38 | |
| Chande Momentum Oscillator (20): | 0.02714 | |
| Repulse (5,40,3): | 0.2446 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0133 | |
| Courbe Coppock: | 0.39 |
| MA7: | 7.89229 | |
| MA20: | 7.76987 | |
| MA50: | 7.67323 | |
| MA100: | 7.54219 | |
| MAexp7: | 7.93423 | |
| MAexp20: | 7.92234 | |
| MAexp50: | 7.90814 | |
| MAexp100: | 7.89194 | |
| Price / MA7: | +0.31% | |
| Price / MA20: | +1.89% | |
| Price / MA50: | +3.18% | |
| Price / MA100: | +4.97% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | +0.11% | |
| Price / MAexp100: | +0.32% |
Quotes :
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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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