Londinia Opportunities Analyses - 05/02/2024 (GMT) USD/HUF - 1H
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
- FX/Indices
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
6%
67%
28%
My opinion
Bearish under 363.90 HUF
My targets
361.65 HUF (-1.32)
358.99 HUF (-3.98)
My analysis
USD/HUF is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 363.90 HUF. The next support located at 361.65 HUF is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 358.99 HUF. Below this support, sellers could then target 355.38 HUF. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
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
8
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Additional analysis
Quotes
USD/HUF rating 362.97 HUF. On the day, this instrument lost -0.33% with the lowest point at 362.82 HUF and the highest point at 364.92 HUF. The deviation from the price is +0.04% for the low point and -0.53% for the high point.362.82
364.92
362.97
Here is a more detailed summary of the historical variations registered by USD/HUF:
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
A technical analysis in 1H of this USD/HUF chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 12 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
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 347.35 | 355.38 | 358.99 | 362.97 | 363.08 | 363.90 | 365.73 |
| Change (%) | -4.30% | -2.09% | -1.10% | - | +0.03% | +0.26% | +0.76% |
| Change | -15.62 | -7.59 | -3.98 | - | +0.11 | +0.93 | +2.76 |
| Level | Minor | Minor | Major | - | Intermediate | 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 | 357.77 | 360.38 | 362.27 | 364.88 | 366.77 | 369.38 | 371.27 |
| Camarilla | 362.93 | 363.35 | 363.76 | 364.17 | 364.58 | 365.00 | 365.41 |
| Woodie | 357.42 | 360.20 | 361.92 | 364.70 | 366.42 | 369.20 | 370.92 |
| Fibonacci | 360.38 | 362.10 | 363.16 | 364.88 | 366.60 | 367.66 | 369.38 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 358.12 | 361.65 | 364.42 | 367.95 | 370.72 | 374.25 | 377.02 |
| Camarilla | 365.46 | 366.04 | 366.61 | 367.19 | 367.77 | 368.35 | 368.92 |
| Woodie | 357.74 | 361.46 | 364.04 | 367.76 | 370.34 | 374.06 | 376.64 |
| Fibonacci | 361.65 | 364.06 | 365.54 | 367.95 | 370.36 | 371.84 | 374.25 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 342.65 | 350.09 | 358.28 | 365.72 | 373.91 | 381.35 | 389.54 |
| Camarilla | 362.17 | 363.61 | 365.04 | 366.47 | 367.90 | 369.34 | 370.77 |
| Woodie | 343.03 | 350.28 | 358.66 | 365.91 | 374.29 | 381.54 | 389.92 |
| Fibonacci | 350.09 | 356.06 | 359.75 | 365.72 | 371.69 | 375.38 | 381.35 |
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): | 40.18 | |
| MACD (12,26,9): | -0.3900 | |
| Directional Movement: | -3.86 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 363.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 364.48 | |
| Elder Ray (13): | -0.39 | |
| Super Trend (3,10): | 364.82 | |
| Zig ZAG (10): | 362.94 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 9.57 | |
| TEMA (21): | 363.07 | |
| Williams %R (14): | -92.08 | |
| Chande Momentum Oscillator (20): | -0.65 | |
| Repulse (5,40,3): | -0.0500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.14 |
| MA7: | 365.79 | |
| MA20: | 366.25 | |
| MA50: | 364.39 | |
| MA100: | 358.54 | |
| MAexp7: | 363.22 | |
| MAexp20: | 363.63 | |
| MAexp50: | 364.35 | |
| MAexp100: | 365.15 | |
| Price / MA7: | -0.77% | |
| Price / MA20: | -0.90% | |
| Price / MA50: | -0.39% | |
| Price / MA100: | +1.24% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.18% | |
| Price / MAexp50: | -0.38% | |
| Price / MAexp100: | -0.60% |
Quotes :
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Real time data
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Forex