CAD/HKD - 1H - Technical analysis published on 04/08/2021 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
72%
0%
28%
My opinion
Bearish under 6.1973 HKD
My targets
6.1623 HKD (-0.0120)
6.1557 HKD (-0.0186)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on CAD/HKD. As long as you are under the resistance located at 6.1973 HKD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 6.1623 HKD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 6.1557 HKD as an objective. Crossing it would then enable sellers to target 6.1475 HKD. If the resistance 6.1973 HKD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
0.2
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/HKD price is 6.1743 HKD. The price has increased by +0.04% since the last closing and was between 6.1651 HKD and 6.1786 HKD. This implies that the price is at +0.15% from its lowest and at -0.07% from its highest.6.1651
6.1786
6.1743
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 HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/HKD chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. 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
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
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:
Horizontal support 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 | 6.1557 | 6.1623 | 6.1692 | 6.1743 | 6.1794 | 6.1973 | 6.2072 |
| Change (%) | -0.30% | -0.19% | -0.08% | - | +0.08% | +0.37% | +0.53% |
| Change | -0.0186 | -0.0120 | -0.0051 | - | +0.0051 | +0.0230 | +0.0329 |
| Level | Minor | Minor | Minor | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.1330 | 6.1476 | 6.1596 | 6.1742 | 6.1862 | 6.2008 | 6.2128 |
| Camarilla | 6.1643 | 6.1667 | 6.1692 | 6.1716 | 6.1740 | 6.1765 | 6.1789 |
| Woodie | 6.1317 | 6.1470 | 6.1583 | 6.1736 | 6.1849 | 6.2002 | 6.2115 |
| Fibonacci | 6.1476 | 6.1578 | 6.1640 | 6.1742 | 6.1844 | 6.1906 | 6.2008 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.0922 | 6.1198 | 6.1519 | 6.1795 | 6.2116 | 6.2392 | 6.2713 |
| Camarilla | 6.1675 | 6.1730 | 6.1784 | 6.1839 | 6.1894 | 6.1949 | 6.2003 |
| Woodie | 6.0944 | 6.1209 | 6.1541 | 6.1806 | 6.2138 | 6.2403 | 6.2735 |
| Fibonacci | 6.1198 | 6.1426 | 6.1567 | 6.1795 | 6.2023 | 6.2164 | 6.2392 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.9012 | 5.9951 | 6.0916 | 6.1855 | 6.2820 | 6.3759 | 6.4724 |
| Camarilla | 6.1356 | 6.1531 | 6.1706 | 6.1880 | 6.2055 | 6.2229 | 6.2404 |
| Woodie | 5.9024 | 5.9958 | 6.0928 | 6.1862 | 6.2832 | 6.3766 | 6.4736 |
| Fibonacci | 5.9951 | 6.0679 | 6.1128 | 6.1855 | 6.2583 | 6.3032 | 6.3759 |
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): | 52.68 | |
| MACD (12,26,9): | -0.0021 | |
| Directional Movement: | -1.9590 | |
| AROON (14): | 71.4286 | |
| DEMA (21): | 6.1702 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.1630 | |
| Elder Ray (13): | 0.0034 | |
| Super Trend (3,10): | 6.1884 | |
| Zig ZAG (10): | 6.1769 | |
| VORTEX (21): | 0.9904 | |
| Stochastique (14,3,5): | 90.38 | |
| TEMA (21): | 6.1734 | |
| Williams %R (14): | -7.41 | |
| Chande Momentum Oscillator (20): | 0.0113 | |
| Repulse (5,40,3): | 0.0868 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0077 | |
| Courbe Coppock: | 0.05 |
| MA7: | 6.1875 | |
| MA20: | 6.1958 | |
| MA50: | 6.1475 | |
| MA100: | 6.0988 | |
| MAexp7: | 6.1743 | |
| MAexp20: | 6.1740 | |
| MAexp50: | 6.1799 | |
| MAexp100: | 6.1835 | |
| Price / MA7: | -0.21% | |
| Price / MA20: | -0.35% | |
| Price / MA50: | +0.44% | |
| Price / MA100: | +1.24% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | +0.00% | |
| Price / MAexp50: | -0.09% | |
| Price / MAexp100: | -0.15% |
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.
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