CAD/CNH - 1H - Technical analysis published on 01/31/2023 (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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
44%
28%
My opinion
Bearish under 5.06496 CNH
My targets
5.03636 CNH (-0.01241)
5.02742 CNH (-0.02135)
My analysis
The bearish trend is currently very strong for CAD/CNH. As long as the price remains below the resistance at 5.06496 CNH, you could try to take advantage of the bearish rally. The first bearish objective is located at 5.03636 CNH. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 5.02742 CNH as an objective. Crossing it would then enable sellers to target 5.00886 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, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.3
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Additional analysis
Quotes
The CAD/CNH rating is 5.04877 CNH. On the day, this instrument lost -0.01% and was between 5.04702 CNH and 5.05122 CNH. This implies that the price is at +0.03% from its lowest and at -0.05% from its highest.5.04702
5.05122
5.04877
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
A study of price movements over other periods shows the following variations:
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 a overall strongly 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.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
The Central Indicators scanner found this result concerning these indicators:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.02742 | 5.03636 | 5.04597 | 5.04877 | 5.06496 | 5.08093 | 5.09074 |
| Change (%) | -0.42% | -0.25% | -0.06% | - | +0.32% | +0.64% | +0.83% |
| Change | -0.02135 | -0.01241 | -0.00280 | - | +0.01619 | +0.03216 | +0.04197 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Intermediate | Minor |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 34.74 | |
| MACD (12,26,9): | -0.0052 | |
| Directional Movement: | -11.40768 | |
| AROON (14): | -92.85714 | |
| DEMA (21): | 5.04989 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.06041 | |
| Elder Ray (13): | -0.00400 | |
| Super Trend (3,10): | 5.06524 | |
| Zig ZAG (10): | 5.04956 | |
| VORTEX (21): | 0.8534 | |
| Stochastique (14,3,5): | 14.05 | |
| TEMA (21): | 5.04570 | |
| Williams %R (14): | -83.82 | |
| Chande Momentum Oscillator (20): | -0.01573 | |
| Repulse (5,40,3): | -0.0112 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0127 | |
| Courbe Coppock: | 0.60 |
| MA7: | 5.06089 | |
| MA20: | 5.05458 | |
| MA50: | 5.12489 | |
| MA100: | 5.20444 | |
| MAexp7: | 5.05018 | |
| MAexp20: | 5.05609 | |
| MAexp50: | 5.06065 | |
| MAexp100: | 5.06109 | |
| Price / MA7: | -0.24% | |
| Price / MA20: | -0.11% | |
| Price / MA50: | -1.49% | |
| Price / MA100: | -2.99% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | -0.23% | |
| Price / MAexp100: | -0.24% |
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.
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