CAD/HKD - 1H - Technical analysis published on 09/23/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
6%
50%
My opinion
Bearish under 5.8529 HKD
My targets
5.8096 HKD (-0.0161)
5.7362 HKD (-0.0895)
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 5.8529 HKD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 5.8096 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 5.7362 HKD as an objective. Crossing it would then enable sellers to target 5.3564 HKD. If the resistance 5.8529 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.
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
2
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/HKD rating 5.8257 HKD. On the day, this instrument gained +0.00% with the lowest point at 5.8203 HKD and the highest point at 5.8280 HKD. The deviation from the price is +0.09% for the low point and -0.04% for the high point.5.8203
5.8280
5.8257
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 LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/HKD chart shows a bearish trend. 75.00% 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 several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
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 : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.3564 | 5.7362 | 5.8096 | 5.8257 | 5.8529 | 5.8803 | 5.9340 |
| Change (%) | -8.06% | -1.54% | -0.28% | - | +0.47% | +0.94% | +1.86% |
| Change | -0.4693 | -0.0895 | -0.0161 | - | +0.0272 | +0.0546 | +0.1083 |
| Level | Major | Major | Intermediate | - | Intermediate | Intermediate | 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 | 5.7384 | 5.7669 | 5.7963 | 5.8248 | 5.8542 | 5.8827 | 5.9121 |
| Camarilla | 5.8099 | 5.8152 | 5.8205 | 5.8258 | 5.8311 | 5.8364 | 5.8417 |
| Woodie | 5.7390 | 5.7671 | 5.7969 | 5.8250 | 5.8548 | 5.8829 | 5.9127 |
| Fibonacci | 5.7669 | 5.7890 | 5.8027 | 5.8248 | 5.8469 | 5.8606 | 5.8827 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.6977 | 5.7980 | 5.8578 | 5.9581 | 6.0179 | 6.1182 | 6.1780 |
| Camarilla | 5.8736 | 5.8883 | 5.9029 | 5.9176 | 5.9323 | 5.9470 | 5.9616 |
| Woodie | 5.6775 | 5.7879 | 5.8376 | 5.9480 | 5.9977 | 6.1081 | 6.1578 |
| Fibonacci | 5.7980 | 5.8592 | 5.8969 | 5.9581 | 6.0193 | 6.0570 | 6.1182 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.7146 | 5.8425 | 5.9072 | 6.0351 | 6.0998 | 6.2277 | 6.2924 |
| Camarilla | 5.9190 | 5.9367 | 5.9544 | 5.9720 | 5.9897 | 6.0073 | 6.0250 |
| Woodie | 5.6831 | 5.8267 | 5.8757 | 6.0193 | 6.0683 | 6.2119 | 6.2609 |
| Fibonacci | 5.8425 | 5.9160 | 5.9615 | 6.0351 | 6.1086 | 6.1541 | 6.2277 |
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): | 47.32 | |
| MACD (12,26,9): | -0.0038 | |
| Directional Movement: | 4.3786 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 5.8176 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.8532 | |
| Elder Ray (13): | 0.0012 | |
| Super Trend (3,10): | 5.7987 | |
| Zig ZAG (10): | 5.8226 | |
| VORTEX (21): | 1.0403 | |
| Stochastique (14,3,5): | 35.40 | |
| TEMA (21): | 5.8229 | |
| Williams %R (14): | -69.04 | |
| Chande Momentum Oscillator (20): | 0.0087 | |
| Repulse (5,40,3): | -0.0113 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0142 | |
| Courbe Coppock: | 0.08 |
| MA7: | 5.8736 | |
| MA20: | 5.9492 | |
| MA50: | 6.0325 | |
| MA100: | 6.0670 | |
| MAexp7: | 5.8233 | |
| MAexp20: | 5.8242 | |
| MAexp50: | 5.8395 | |
| MAexp100: | 5.8662 | |
| Price / MA7: | -0.82% | |
| Price / MA20: | -2.08% | |
| Price / MA50: | -3.43% | |
| Price / MA100: | -3.98% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | -0.24% | |
| Price / MAexp100: | -0.69% |
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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