CAD/CNH - 1H - Technical analysis published on 01/10/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 5.09074 CNH
My targets
5.05594 CNH (-0.00915)
5.03636 CNH (-0.02873)
My analysis
There is a bearish trend on CAD/CNH both at the basic level and in the short term. A sale could be considered, so long as the price remains below 5.09074 CNH. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 5.05594 CNH. Then the price could move towards 5.03636 CNH. Then 5.02560 CNH by extension. Be careful, a return to above the resistance 5.09074 CNH would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
2.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/CNH rating 5.06509 CNH. On the day, this instrument lost -0.01% with the lowest point at 5.05252 CNH and the highest point at 5.06810 CNH. The deviation from the price is +0.25% for the low point and -0.06% for the high point.5.05252
5.06810
5.06509
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CAD/CNH in 1H shows an overall bearish trend. 64.29% of the signals given by moving averages are bearish. The overall trend seems to be showing some signs of weakness, as do the tentative bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 7 are bullish, 6 are neutral and 5 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.02560 | 5.03636 | 5.05594 | 5.06509 | 5.06794 | 5.09074 | 5.12136 |
| Change (%) | -0.78% | -0.57% | -0.18% | - | +0.06% | +0.51% | +1.11% |
| Change | -0.03949 | -0.02873 | -0.00915 | - | +0.00285 | +0.02565 | +0.05627 |
| Level | Minor | Intermediate | Intermediate | - | 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 | 5.01892 | 5.03509 | 5.05021 | 5.06638 | 5.08150 | 5.09767 | 5.11279 |
| Camarilla | 5.05672 | 5.05958 | 5.06245 | 5.06532 | 5.06819 | 5.07106 | 5.07393 |
| Woodie | 5.01839 | 5.03483 | 5.04968 | 5.06612 | 5.08097 | 5.09741 | 5.11226 |
| Fibonacci | 5.03509 | 5.04705 | 5.05443 | 5.06638 | 5.07834 | 5.08572 | 5.09767 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.93301 | 4.97931 | 5.02898 | 5.07528 | 5.12495 | 5.17125 | 5.22092 |
| Camarilla | 5.05227 | 5.06107 | 5.06986 | 5.07866 | 5.08746 | 5.09626 | 5.10505 |
| Woodie | 4.93471 | 4.98015 | 5.03068 | 5.07612 | 5.12665 | 5.17209 | 5.22262 |
| Fibonacci | 4.97931 | 5.01597 | 5.03862 | 5.07528 | 5.11194 | 5.13459 | 5.17125 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.84750 | 4.96822 | 5.04042 | 5.16114 | 5.23334 | 5.35406 | 5.42626 |
| Camarilla | 5.05958 | 5.07726 | 5.09495 | 5.11263 | 5.13031 | 5.14800 | 5.16568 |
| Woodie | 4.82325 | 4.95609 | 5.01617 | 5.14901 | 5.20909 | 5.34193 | 5.40201 |
| Fibonacci | 4.96822 | 5.04191 | 5.08744 | 5.16114 | 5.23483 | 5.28036 | 5.35406 |
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): | 45.16 | |
| MACD (12,26,9): | -0.0023 | |
| Directional Movement: | -8.80975 | |
| AROON (14): | -50.00000 | |
| DEMA (21): | 5.06174 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.07390 | |
| Elder Ray (13): | -0.00010 | |
| Super Trend (3,10): | 5.05284 | |
| Zig ZAG (10): | 5.06209 | |
| VORTEX (21): | 1.0149 | |
| Stochastique (14,3,5): | 48.60 | |
| TEMA (21): | 5.06069 | |
| Williams %R (14): | -49.60 | |
| Chande Momentum Oscillator (20): | -0.00402 | |
| Repulse (5,40,3): | -0.0071 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0051 | |
| Courbe Coppock: | 0.31 |
| MA7: | 5.08169 | |
| MA20: | 5.11337 | |
| MA50: | 5.21409 | |
| MA100: | 5.24194 | |
| MAexp7: | 5.06224 | |
| MAexp20: | 5.06441 | |
| MAexp50: | 5.06818 | |
| MAexp100: | 5.07566 | |
| Price / MA7: | -0.33% | |
| Price / MA20: | -0.94% | |
| Price / MA50: | -2.86% | |
| Price / MA100: | -3.37% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | -0.21% |
Quotes :
-
Real time data
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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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