CAD/CNH - Daily - Technical analysis published on 01/31/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
50%
17%
33%
My opinion
Bearish under 5.09074 CNH
My targets
4.99494 CNH (-0.05389)
4.90596 CNH (-0.14287)
My analysis
The bearish trend is currently very strong for CAD/CNH. As long as the price remains below the resistance at 5.09074 CNH, you could try to take advantage of the bearish rally. The first bearish objective is located at 4.99494 CNH. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 4.90596 CNH as an objective. Crossing it would then enable sellers to target 4.71482 CNH. 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, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
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
The CAD/CNH price is 5.04883 CNH. The price is lower by -0.01% since the last closing and was traded between 5.04702 CNH and 5.05122 CNH over the period. The price is currently at +0.04% from its lowest and -0.05% from its highest.5.04702
5.05122
5.04883
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
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 Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4.90596 | 4.99494 | 5.03636 | 5.04883 | 5.09074 | 5.15078 | 5.18485 |
| Change (%) | -2.83% | -1.07% | -0.25% | - | +0.83% | +2.02% | +2.69% |
| Change | -0.14287 | -0.05389 | -0.01247 | - | +0.04191 | +0.10195 | +0.13602 |
| Level | Intermediate | Major | Intermediate | - | Minor | Major | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.00289 | 5.02406 | 5.03663 | 5.05780 | 5.07037 | 5.09154 | 5.10411 |
| Camarilla | 5.03991 | 5.04300 | 5.04610 | 5.04919 | 5.05228 | 5.05538 | 5.05847 |
| Woodie | 4.99858 | 5.02191 | 5.03232 | 5.05565 | 5.06606 | 5.08939 | 5.09980 |
| Fibonacci | 5.02406 | 5.03695 | 5.04492 | 5.05780 | 5.07069 | 5.07866 | 5.09154 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.98013 | 5.00370 | 5.03975 | 5.06332 | 5.09937 | 5.12294 | 5.15899 |
| Camarilla | 5.05941 | 5.06487 | 5.07034 | 5.07580 | 5.08127 | 5.08673 | 5.09220 |
| Woodie | 4.98637 | 5.00682 | 5.04599 | 5.06644 | 5.10561 | 5.12606 | 5.16523 |
| Fibonacci | 5.00370 | 5.02648 | 5.04055 | 5.06332 | 5.08610 | 5.10017 | 5.12294 |
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): | 43.77 | |
| MACD (12,26,9): | -0.0190 | |
| Directional Movement: | -5.42307 | |
| AROON (14): | 71.42858 | |
| DEMA (21): | 5.03568 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.02110 | |
| Elder Ray (13): | -0.00842 | |
| Super Trend (3,10): | 5.13947 | |
| Zig ZAG (10): | 5.04835 | |
| VORTEX (21): | 0.9395 | |
| Stochastique (14,3,5): | 65.74 | |
| TEMA (21): | 5.04866 | |
| Williams %R (14): | -45.29 | |
| Chande Momentum Oscillator (20): | 0.03629 | |
| Repulse (5,40,3): | -0.2306 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0737 | |
| Courbe Coppock: | 0.04 |
| MA7: | 5.06074 | |
| MA20: | 5.05456 | |
| MA50: | 5.12488 | |
| MA100: | 5.20444 | |
| MAexp7: | 5.05558 | |
| MAexp20: | 5.06578 | |
| MAexp50: | 5.11825 | |
| MAexp100: | 5.16469 | |
| Price / MA7: | -0.24% | |
| Price / MA20: | -0.11% | |
| Price / MA50: | -1.48% | |
| Price / MA100: | -2.99% | |
| Price / MAexp7: | -0.13% | |
| Price / MAexp20: | -0.33% | |
| Price / MAexp50: | -1.36% | |
| Price / MAexp100: | -2.24% |
Quotes :
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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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