CAD/MXN

- MXN (-)

- Real time data - Forex

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Forex
Ticker:	CADMXN
ISIN:

CAD/MXN - 1H - Technical analysis published on 04/16/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

89%

My opinion

Bullish above 12.209 MXN

My targets

12.274 MXN (+0.044)

12.316 MXN (+0.086)

My analysis

The bullish trend is currently very strong on CAD/MXN. As long as the price remains above the support at 12.209 MXN, you could try to benefit from the boom. The first bullish objective is located at 12.274 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 12.316 MXN as an objective. Crossing it would then enable buyers to target 12.581 MXN. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.8

Comment on the analysis

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.

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

Additional analysis

Quotes

The CAD/MXN price is 12.230 MXN. The price has increased by +0.92% since the last closing with the lowest point at 12.117 MXN and the highest point at 12.234 MXN. The deviation from the price is +0.93% for the low point and -0.03% for the high point.

12.117

12.234

12.230

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows the following items:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

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 HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of CAD/MXN in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

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:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Pivot points : price is over resistance 2

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

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	12.123	12.172	12.209	12.230	12.274	12.316	12.581
Change (%)	-0.87%	-0.47%	-0.17%	-	+0.36%	+0.70%	+2.87%
Change	-0.107	-0.058	-0.021	-	+0.044	+0.086	+0.351
Level	Minor	Major	Minor	-	Minor	Minor	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	11.936	11.987	12.053	12.104	12.170	12.221	12.287
Camarilla	12.087	12.098	12.108	12.119	12.130	12.141	12.151
Woodie	11.944	11.991	12.061	12.108	12.178	12.225	12.295
Fibonacci	11.987	12.032	12.059	12.104	12.149	12.176	12.221

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	11.782	11.876	11.983	12.077	12.184	12.278	12.385
Camarilla	12.034	12.052	12.071	12.089	12.107	12.126	12.144
Woodie	11.788	11.879	11.989	12.080	12.190	12.281	12.391
Fibonacci	11.876	11.953	12.001	12.077	12.154	12.202	12.278

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	11.639	11.894	12.064	12.319	12.489	12.744	12.914
Camarilla	12.117	12.156	12.195	12.234	12.273	12.312	12.351
Woodie	11.597	11.873	12.022	12.298	12.447	12.723	12.872
Fibonacci	11.894	12.056	12.157	12.319	12.481	12.582	12.744

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):	75.45
MACD (12,26,9):	0.0260
Directional Movement:	28.754
AROON (14):	78.571
DEMA (21):	12.174
Parabolic SAR (0,02-0,02-0,2):	12.114
Elder Ray (13):	0.053
Super Trend (3,10):	12.145
Zig ZAG (10):	12.212
VORTEX (21):	1.3140
Stochastique (14,3,5):	94.66
TEMA (21):	12.185
Williams %R (14):	-7.21
Chande Momentum Oscillator (20):	0.089
Repulse (5,40,3):	0.5600
ROCnROLL:	1
TRIX (15,9):	0.0240
Courbe Coppock:	0.91

MA7:	12.083
MA20:	12.195
MA50:	12.416
MA100:	12.585
MAexp7:	12.177
MAexp20:	12.140
MAexp50:	12.104
MAexp100:	12.086
Price / MA7:	+1.22%
Price / MA20:	+0.29%
Price / MA50:	-1.50%
Price / MA100:	-2.82%
Price / MAexp7:	+0.44%
Price / MAexp20:	+0.74%
Price / MAexp50:	+1.04%
Price / MAexp100:	+1.19%

Quotes : - Real time data - Forex

News

Don't forget to follow the news on CAD/MXN. At the time of publication of this analysis, the latest news was as follows:

FX Closing Bell April 25, Trump’s Tough Tariff Talk Awakens CAD & MXN Bears

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

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