EUR/CNH - 1H - Technical analysis published on 07/06/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
33%
17%
50%
My opinion
Bearish under 7.89377 CNH
My targets
7.86017 CNH (-0.01992)
7.84305 CNH (-0.03704)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on EUR/CNH as long as the price remains well below 7.89377 CNH. The next bearish objective for sellers is set at 7.86017 CNH. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 7.84305 CNH. If there is any crossing, the next objective would be the support located at 7.66470 CNH. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
3.8
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Additional analysis
Quotes
The EUR/CNH rating is 7.88009 CNH. On the day, this instrument lost -0.01% and was traded between 7.86797 CNH and 7.88774 CNH over the period. The price is currently at +0.15% from its lowest and -0.10% from its highest.7.86797
7.88774
7.88009
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/CNH in 1H shows an overall bearish trend. 78.57% of the signals given by moving averages are bearish. The overall trend seems to be showing some signs of weakness, as do the tentative bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.84305 | 7.86017 | 7.87410 | 7.88009 | 7.89377 | 7.90770 | 7.92451 |
| Change (%) | -0.47% | -0.25% | -0.08% | - | +0.17% | +0.35% | +0.56% |
| Change | -0.03704 | -0.01992 | -0.00599 | - | +0.01368 | +0.02761 | +0.04442 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Major | Minor |
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 | 7.81022 | 7.83519 | 7.85808 | 7.88305 | 7.90594 | 7.93091 | 7.95380 |
| Camarilla | 7.86780 | 7.87219 | 7.87657 | 7.88096 | 7.88535 | 7.88973 | 7.89412 |
| Woodie | 7.80917 | 7.83467 | 7.85703 | 7.88253 | 7.90489 | 7.93039 | 7.95275 |
| Fibonacci | 7.83519 | 7.85348 | 7.86477 | 7.88305 | 7.90134 | 7.91263 | 7.93091 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.77700 | 7.81695 | 7.87371 | 7.91366 | 7.97042 | 8.01037 | 8.06713 |
| Camarilla | 7.90387 | 7.91273 | 7.92160 | 7.93046 | 7.93933 | 7.94819 | 7.95706 |
| Woodie | 7.78540 | 7.82115 | 7.88211 | 7.91786 | 7.97882 | 8.01457 | 8.07553 |
| Fibonacci | 7.81695 | 7.85390 | 7.87672 | 7.91366 | 7.95061 | 7.97343 | 8.01037 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.33878 | 7.46638 | 7.69842 | 7.82602 | 8.05806 | 8.18566 | 8.41770 |
| Camarilla | 7.83156 | 7.86453 | 7.89749 | 7.93046 | 7.96343 | 7.99639 | 8.02936 |
| Woodie | 7.39100 | 7.49249 | 7.75064 | 7.85213 | 8.11028 | 8.21177 | 8.46992 |
| Fibonacci | 7.46638 | 7.60376 | 7.68864 | 7.82602 | 7.96340 | 8.04828 | 8.18566 |
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): | 51.94 | |
| MACD (12,26,9): | -0.0011 | |
| Directional Movement: | -4.16261 | |
| AROON (14): | 42.85715 | |
| DEMA (21): | 7.88032 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.86987 | |
| Elder Ray (13): | 0.00195 | |
| Super Trend (3,10): | 7.86970 | |
| Zig ZAG (10): | 7.88386 | |
| VORTEX (21): | 0.9269 | |
| Stochastique (14,3,5): | 71.17 | |
| TEMA (21): | 7.88026 | |
| Williams %R (14): | -22.81 | |
| Chande Momentum Oscillator (20): | -0.00029 | |
| Repulse (5,40,3): | 0.0796 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0027 | |
| Courbe Coppock: | 0.16 |
| MA7: | 7.89812 | |
| MA20: | 7.84511 | |
| MA50: | 7.70643 | |
| MA100: | 7.57657 | |
| MAexp7: | 7.88114 | |
| MAexp20: | 7.88188 | |
| MAexp50: | 7.88540 | |
| MAexp100: | 7.89098 | |
| Price / MA7: | -0.23% | |
| Price / MA20: | +0.45% | |
| Price / MA50: | +2.25% | |
| Price / MA100: | +4.01% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.07% | |
| Price / MAexp100: | -0.14% |
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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