GBP/CNH - 1H - Technical analysis published on 10/19/2022 (GMT)
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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:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 8.1201 CNH
My targets
8.2356 CNH (+0.0405)
8.2870 CNH (+0.0919)
My analysis
GBP/CNH is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 8.1201 CNH. The next resistance located at 8.2356 CNH is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 8.2870 CNH. After this resistance, buyers could then target 8.3790 CNH. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem 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
8.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/CNH rating 8.1951 CNH. The price registered a decrease of -0.01% on the session with the lowest point at 8.1813 CNH and the highest point at 8.2011 CNH. The deviation from the price is +0.17% for the low point and -0.07% for the high point.8.1813
8.2011
8.1951
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/CNH indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
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
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 | 7.9885 | 8.0507 | 8.1201 | 8.1951 | 8.2000 | 8.2356 | 8.2870 |
| Change (%) | -2.52% | -1.76% | -0.92% | - | +0.06% | +0.49% | +1.12% |
| Change | -0.2066 | -0.1444 | -0.0750 | - | +0.0049 | +0.0405 | +0.0919 |
| Level | Major | Minor | Intermediate | - | Major | Intermediate | Major |
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 | 8.0440 | 8.0821 | 8.1389 | 8.1770 | 8.2338 | 8.2719 | 8.3287 |
| Camarilla | 8.1695 | 8.1782 | 8.1869 | 8.1956 | 8.2043 | 8.2130 | 8.2217 |
| Woodie | 8.0533 | 8.0868 | 8.1482 | 8.1817 | 8.2431 | 8.2766 | 8.3380 |
| Fibonacci | 8.0821 | 8.1184 | 8.1408 | 8.1770 | 8.2133 | 8.2357 | 8.2719 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5658 | 7.7067 | 7.8868 | 8.0277 | 8.2078 | 8.3487 | 8.5288 |
| Camarilla | 7.9785 | 8.0080 | 8.0374 | 8.0668 | 8.0962 | 8.1257 | 8.1551 |
| Woodie | 7.5853 | 7.7165 | 7.9063 | 8.0375 | 8.2273 | 8.3585 | 8.5483 |
| Fibonacci | 7.7067 | 7.8294 | 7.9051 | 8.0277 | 8.1504 | 8.2261 | 8.3487 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.8151 | 7.1096 | 7.5425 | 7.8370 | 8.2699 | 8.5644 | 8.9973 |
| Camarilla | 7.7755 | 7.8421 | 7.9088 | 7.9755 | 8.0422 | 8.1089 | 8.1755 |
| Woodie | 6.8844 | 7.1442 | 7.6118 | 7.8716 | 8.3392 | 8.5990 | 9.0666 |
| Fibonacci | 7.1096 | 7.3874 | 7.5591 | 7.8370 | 8.1148 | 8.2865 | 8.5644 |
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): | 59.22 | |
| MACD (12,26,9): | 0.0079 | |
| Directional Movement: | 10.8666 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 8.1904 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.1454 | |
| Elder Ray (13): | 0.0080 | |
| Super Trend (3,10): | 8.2077 | |
| Zig ZAG (10): | 8.1931 | |
| VORTEX (21): | 1.1003 | |
| Stochastique (14,3,5): | 82.08 | |
| TEMA (21): | 8.1904 | |
| Williams %R (14): | -17.25 | |
| Chande Momentum Oscillator (20): | 0.0212 | |
| Repulse (5,40,3): | 0.0458 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0102 | |
| Courbe Coppock: | 0.70 |
| MA7: | 8.0831 | |
| MA20: | 7.9637 | |
| MA50: | 8.0284 | |
| MA100: | 8.0999 | |
| MAexp7: | 8.1890 | |
| MAexp20: | 8.1803 | |
| MAexp50: | 8.1611 | |
| MAexp100: | 8.1215 | |
| Price / MA7: | +1.39% | |
| Price / MA20: | +2.91% | |
| Price / MA50: | +2.08% | |
| Price / MA100: | +1.18% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +0.41% | |
| Price / MAexp100: | +0.90% |
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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