Londinia Opportunities Analyses - 05/02/2024 (GMT) GBP/SGD - 1H
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
- FX/Indices
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 1.7021 SGD
My targets
1.6905 SGD (-0.0064)
1.6821 SGD (-0.0148)
My analysis
The bearish trend is currently very strong for GBP/SGD. As long as the price remains below the resistance at 1.7021 SGD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.6905 SGD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.6821 SGD as an objective. Crossing it would then enable sellers to target 1.6743 SGD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.7
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Additional analysis
Quotes
The GBP/SGD rating is 1.6969 SGD. On the day, this instrument lost -0.48% with the lowest point at 1.6956 SGD and the highest point at 1.7056 SGD. The deviation from the price is +0.08% for the low point and -0.51% for the high point.1.6956
1.7056
1.6969
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/SGD chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish 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 positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6821 | 1.6905 | 1.6967 | 1.6969 | 1.7021 | 1.7053 | 1.7085 |
| Change (%) | -0.87% | -0.38% | -0.01% | - | +0.31% | +0.50% | +0.68% |
| Change | -0.0148 | -0.0064 | -0.0002 | - | +0.0052 | +0.0084 | +0.0116 |
| Level | Major | Minor | Intermediate | - | Major | Major | Intermediate |
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 | 1.6979 | 1.7000 | 1.7025 | 1.7046 | 1.7071 | 1.7092 | 1.7117 |
| Camarilla | 1.7037 | 1.7042 | 1.7046 | 1.7050 | 1.7054 | 1.7058 | 1.7063 |
| Woodie | 1.6981 | 1.7001 | 1.7027 | 1.7047 | 1.7073 | 1.7093 | 1.7119 |
| Fibonacci | 1.7000 | 1.7018 | 1.7028 | 1.7046 | 1.7064 | 1.7074 | 1.7092 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6537 | 1.6654 | 1.6837 | 1.6954 | 1.7137 | 1.7254 | 1.7437 |
| Camarilla | 1.6938 | 1.6965 | 1.6993 | 1.7020 | 1.7048 | 1.7075 | 1.7103 |
| Woodie | 1.6570 | 1.6671 | 1.6870 | 1.6971 | 1.7170 | 1.7271 | 1.7470 |
| Fibonacci | 1.6654 | 1.6769 | 1.6839 | 1.6954 | 1.7069 | 1.7139 | 1.7254 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6528 | 1.6650 | 1.6850 | 1.6972 | 1.7172 | 1.7294 | 1.7494 |
| Camarilla | 1.6963 | 1.6992 | 1.7022 | 1.7051 | 1.7081 | 1.7110 | 1.7140 |
| Woodie | 1.6568 | 1.6670 | 1.6890 | 1.6992 | 1.7212 | 1.7314 | 1.7534 |
| Fibonacci | 1.6650 | 1.6773 | 1.6849 | 1.6972 | 1.7095 | 1.7171 | 1.7294 |
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): | 26.91 | |
| MACD (12,26,9): | -0.0018 | |
| Directional Movement: | -24.8001 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 1.6991 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7026 | |
| Elder Ray (13): | -0.0039 | |
| Super Trend (3,10): | 1.7019 | |
| Zig ZAG (10): | 1.6968 | |
| VORTEX (21): | 0.8051 | |
| Stochastique (14,3,5): | 8.52 | |
| TEMA (21): | 1.6980 | |
| Williams %R (14): | -84.21 | |
| Chande Momentum Oscillator (20): | -0.0070 | |
| Repulse (5,40,3): | -0.1480 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0088 | |
| Courbe Coppock: | 0.65 |
| MA7: | 1.7020 | |
| MA20: | 1.6980 | |
| MA50: | 1.7015 | |
| MA100: | 1.6980 | |
| MAexp7: | 1.6989 | |
| MAexp20: | 1.7012 | |
| MAexp50: | 1.7030 | |
| MAexp100: | 1.7028 | |
| Price / MA7: | -0.30% | |
| Price / MA20: | -0.06% | |
| Price / MA50: | -0.27% | |
| Price / MA100: | -0.06% | |
| Price / MAexp7: | -0.12% | |
| Price / MAexp20: | -0.25% | |
| Price / MAexp50: | -0.36% | |
| Price / MAexp100: | -0.35% |
Quotes :
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Real time data
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Forex