GBP/CNH - 1H - Technical analysis published on 07/12/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 9.4055 CNH
My targets
9.5125 CNH (+0.0679)
9.7334 CNH (+0.2888)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/CNH as long as the price remains well above 9.4055 CNH. The buyers' bullish objective is set at 9.5125 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 9.7334 CNH. If there is any crossing, the next objective would be the resistance located at 10.2527 CNH. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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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Additional analysis
Quotes
The GBP/CNH rating is 9.4446 CNH. The price registered an increase of +0.62% on the session and was between 9.3824 CNH and 9.4479 CNH. This implies that the price is at +0.66% from its lowest and at -0.03% from its highest.9.3824
9.4479
9.4446
Here is a more detailed summary of the historical variations registered by GBP/CNH:
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 GBP/CNH in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
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
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 9.3645 | 9.3899 | 9.4055 | 9.4446 | 9.7334 | 10.2527 | 10.6675 |
| Change (%) | -0.85% | -0.58% | -0.41% | - | +3.06% | +8.56% | +12.95% |
| Change | -0.0801 | -0.0547 | -0.0391 | - | +0.2888 | +0.8081 | +1.2229 |
| Level | Intermediate | Major | Intermediate | - | Minor | 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 | 9.3238 | 9.3440 | 9.3651 | 9.3853 | 9.4064 | 9.4266 | 9.4477 |
| Camarilla | 9.3748 | 9.3786 | 9.3824 | 9.3862 | 9.3900 | 9.3938 | 9.3976 |
| Woodie | 9.3243 | 9.3442 | 9.3656 | 9.3855 | 9.4069 | 9.4268 | 9.4482 |
| Fibonacci | 9.3440 | 9.3598 | 9.3695 | 9.3853 | 9.4011 | 9.4108 | 9.4266 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.1288 | 9.1731 | 9.2567 | 9.3010 | 9.3846 | 9.4289 | 9.5125 |
| Camarilla | 9.3052 | 9.3170 | 9.3287 | 9.3404 | 9.3521 | 9.3639 | 9.3756 |
| Woodie | 9.1486 | 9.1829 | 9.2765 | 9.3108 | 9.4044 | 9.4387 | 9.5323 |
| Fibonacci | 9.1731 | 9.2219 | 9.2521 | 9.3010 | 9.3498 | 9.3800 | 9.4289 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.0516 | 9.1268 | 9.1793 | 9.2545 | 9.3070 | 9.3822 | 9.4347 |
| Camarilla | 9.1967 | 9.2084 | 9.2201 | 9.2318 | 9.2435 | 9.2552 | 9.2669 |
| Woodie | 9.0403 | 9.1211 | 9.1680 | 9.2488 | 9.2957 | 9.3765 | 9.4234 |
| Fibonacci | 9.1268 | 9.1756 | 9.2057 | 9.2545 | 9.3033 | 9.3334 | 9.3822 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 76.29 | |
| MACD (12,26,9): | 0.0164 | |
| Directional Movement: | 15.5627 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 9.4447 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.4348 | |
| Elder Ray (13): | 0.0112 | |
| Super Trend (3,10): | 9.4174 | |
| Zig ZAG (10): | 9.4419 | |
| VORTEX (21): | 1.3289 | |
| Stochastique (14,3,5): | 93.20 | |
| TEMA (21): | 9.4501 | |
| Williams %R (14): | -10.73 | |
| Chande Momentum Oscillator (20): | 0.0287 | |
| Repulse (5,40,3): | 0.0106 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0230 | |
| Courbe Coppock: | 0.96 |
| MA7: | 9.3577 | |
| MA20: | 9.2838 | |
| MA50: | 9.2326 | |
| MA100: | 9.1781 | |
| MAexp7: | 9.4404 | |
| MAexp20: | 9.4236 | |
| MAexp50: | 9.3983 | |
| MAexp100: | 9.3732 | |
| Price / MA7: | +0.93% | |
| Price / MA20: | +1.73% | |
| Price / MA50: | +2.30% | |
| Price / MA100: | +2.90% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.22% | |
| Price / MAexp50: | +0.49% | |
| Price / MAexp100: | +0.76% |
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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