CAD/HKD - Daily - Technical analysis published on 01/06/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 6.1663 HKD
My targets
6.0699 HKD (-0.0585)
6.0296 HKD (-0.0988)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 6.1663 HKD remains possible. It is advisable to trade CAD/HKD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 6.1663 HKD. The next bearish objective for sellers is set at 6.0699 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 6.0296 HKD. In case of crossing, the next objective would be the support located at 5.9696 HKD. PS: if there is a bullish break in the resistance located at 6.1663 HKD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
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 6.1284 HKD. The price registered an increase of +0.32% on the session and was between 6.0877 HKD and 6.1298 HKD. This implies that the price is at +0.67% from its lowest and at -0.02% from its highest.6.0877
6.1298
6.1284
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
Here is a more detailed summary of the historical variations registered by CAD/HKD:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this CAD/HKD chart shows a bearish trend. 64.29% 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 bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : Daily
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.9696 | 6.0296 | 6.0699 | 6.1284 | 6.1663 | 6.2410 | 6.3069 |
| Change (%) | -2.59% | -1.61% | -0.95% | - | +0.62% | +1.84% | +2.91% |
| Change | -0.1588 | -0.0988 | -0.0585 | - | +0.0379 | +0.1126 | +0.1785 |
| Level | Major | Minor | Major | - | Intermediate | 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 | 6.0624 | 6.0847 | 6.0969 | 6.1192 | 6.1314 | 6.1537 | 6.1659 |
| Camarilla | 6.0995 | 6.1027 | 6.1058 | 6.1090 | 6.1122 | 6.1153 | 6.1185 |
| Woodie | 6.0573 | 6.0822 | 6.0918 | 6.1167 | 6.1263 | 6.1512 | 6.1608 |
| Fibonacci | 6.0847 | 6.0979 | 6.1061 | 6.1192 | 6.1324 | 6.1406 | 6.1537 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.9955 | 6.0339 | 6.1007 | 6.1391 | 6.2059 | 6.2443 | 6.3111 |
| Camarilla | 6.1387 | 6.1483 | 6.1580 | 6.1676 | 6.1772 | 6.1869 | 6.1965 |
| Woodie | 6.0098 | 6.0410 | 6.1150 | 6.1462 | 6.2202 | 6.2514 | 6.3254 |
| Fibonacci | 6.0339 | 6.0741 | 6.0989 | 6.1391 | 6.1793 | 6.2041 | 6.2443 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.8979 | 5.9579 | 6.0628 | 6.1228 | 6.2277 | 6.2877 | 6.3926 |
| Camarilla | 6.1223 | 6.1374 | 6.1525 | 6.1676 | 6.1827 | 6.1978 | 6.2130 |
| Woodie | 5.9203 | 5.9691 | 6.0852 | 6.1340 | 6.2501 | 6.2989 | 6.4150 |
| Fibonacci | 5.9579 | 6.0209 | 6.0598 | 6.1228 | 6.1858 | 6.2247 | 6.2877 |
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): | 49.60 | |
| MACD (12,26,9): | -0.0034 | |
| Directional Movement: | 2.2625 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 6.0992 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.0438 | |
| Elder Ray (13): | -0.0072 | |
| Super Trend (3,10): | 6.0330 | |
| Zig ZAG (10): | 6.1120 | |
| VORTEX (21): | 0.9170 | |
| Stochastique (14,3,5): | 63.43 | |
| TEMA (21): | 6.1159 | |
| Williams %R (14): | -39.84 | |
| Chande Momentum Oscillator (20): | 0.0778 | |
| Repulse (5,40,3): | 0.0283 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 1.29 |
| MA7: | 6.1222 | |
| MA20: | 6.0929 | |
| MA50: | 6.1463 | |
| MA100: | 6.1670 | |
| MAexp7: | 6.1151 | |
| MAexp20: | 6.1091 | |
| MAexp50: | 6.1341 | |
| MAexp100: | 6.1624 | |
| Price / MA7: | +0.10% | |
| Price / MA20: | +0.58% | |
| Price / MA50: | -0.29% | |
| Price / MA100: | -0.63% | |
| Price / MAexp7: | +0.22% | |
| Price / MAexp20: | +0.32% | |
| Price / MAexp50: | -0.09% | |
| Price / MAexp100: | -0.55% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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