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EUR/CNH
EUR CNH
- CNH (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: EURCNH
ISIN:

EUR/CNH - 1H - Technical analysis published on 08/04/2023 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Bullish
Technical indicators
89%
6%
6%
My opinion
Bullish above 7.87917 CNH
My targets
7.97055 CNH (+0.05035)
7.98963 CNH (+0.06943)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on EUR/CNH. This is a positive signal for buyers. As long as the price remains above 7.87917 CNH, a purchase could be considered. The first bullish objective is located at 7.97055 CNH. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 7.98963 CNH as an objective. Crossing it would then enable buyers to target 8.08824 CNH. In the event of a return below 7.87917 CNH, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

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
7.3

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Londinia
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The EUR/CNH price is 7.92020 CNH. The price registered an increase of +0.77% on the session and was between 7.84107 CNH and 7.92399 CNH. This implies that the price is at +1.01% from its lowest and at -0.05% from its highest.

7.84107
7.92399
7.92020

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by EUR/CNH:
The Central Records scanner for higher/lower results shows the following items:

Central Records

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


Technical analysis of EUR/CNH in 1H shows an overall bullish trend. 78.57% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:

Central Indicators

Moving Average bullish crossovers : MA20 & MA50

Type : Bullish

Timeframe : 1 hour



An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 7.85648 7.87917 7.91796 7.92020 7.97055 8.08824 8.30641
Change (%) -0.80% -0.52% -0.03% - +0.64% +2.12% +4.88%
Change -0.06372 -0.04103 -0.00224 - +0.05035 +0.16804 +0.38621
Level Intermediate Minor Intermediate - Intermediate Major 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
Standard7.800237.821177.840287.861227.880337.901277.92038
Camarilla7.848387.852057.855727.859397.863067.866737.87040
Woodie7.799327.820717.839377.860767.879427.900817.91947
Fibonacci7.821177.836477.845927.861227.876527.885977.90127


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7.613417.725107.801527.913217.989638.101328.17774
Camarilla7.826207.843447.860697.877937.895177.912427.92966
Woodie7.595777.716287.783887.904397.971998.092508.16010
Fibonacci7.725107.796967.841367.913217.985078.029478.10132


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7.472137.654477.758907.941248.045678.228018.33244
Camarilla7.784487.810777.837057.863347.889637.915927.94220
Woodie7.433197.634997.719967.921768.006738.208538.29350
Fibonacci7.654477.764017.831697.941248.050788.118468.22801

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): 75.24
MACD (12,26,9): 0.0087
Directional Movement: 24.25269
AROON (14): 92.85714
DEMA (21): 7.88612
Parabolic SAR (0,02-0,02-0,2): 7.86458
Elder Ray (13): 0.02952
Super Trend (3,10): 7.87392
Zig ZAG (10): 7.91935
VORTEX (21): 1.2171
Stochastique (14,3,5): 92.95
TEMA (21): 7.89617
Williams %R (14): -2.25
Chande Momentum Oscillator (20): 0.04243
Repulse (5,40,3): 0.4532
ROCnROLL: 1
TRIX (15,9): 0.0051
Courbe Coppock: 0.72
MA7: 7.88097
MA20: 7.95527
MA50: 7.85204
MA100: 7.70311
MAexp7: 7.89238
MAexp20: 7.87719
MAexp50: 7.87370
MAexp100: 7.87853
Price / MA7: +0.50%
Price / MA20: -0.44%
Price / MA50: +0.87%
Price / MA100: +2.82%
Price / MAexp7: +0.35%
Price / MAexp20: +0.55%
Price / MAexp50: +0.59%
Price / MAexp100: +0.53%

Quotes : - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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