CAD/HKD - Daily - Technical analysis published on 07/28/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 5.8034 HKD
My targets
5.9696 HKD (+0.0773)
6.0697 HKD (+0.1774)
My analysis
Has the basic bullish 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 bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 5.8034 HKD remains possible. It is advisable to trade CAD/HKD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 5.8034 HKD. The next bullish objective for buyers is set at 5.9696 HKD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 6.0697 HKD. If there is any crossing, the next objective would be the resistance located at 6.2799 HKD. PS: if there is a bearish break in the support located at 5.8034 HKD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bullish 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
1.8
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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/HKD rating is 5.8923 HKD. The price is lower by -0.11% since the last closing with the lowest point at 5.8865 HKD and the highest point at 5.9062 HKD. The deviation from the price is +0.10% for the low point and -0.24% for the high point.5.8865
5.9062
5.8923
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
Technical analysis of CAD/HKD in Daily shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, only 7 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
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:
Near support of channel
Type : Bullish
Timeframe : Daily
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 | 5.7425 | 5.8034 | 5.8695 | 5.8923 | 5.9120 | 5.9696 | 6.0697 |
| Change (%) | -2.54% | -1.51% | -0.39% | - | +0.33% | +1.31% | +3.01% |
| Change | -0.1498 | -0.0889 | -0.0228 | - | +0.0197 | +0.0773 | +0.1774 |
| Level | Intermediate | Minor | Major | - | Intermediate | Intermediate | 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 | 5.8484 | 5.8702 | 5.8846 | 5.9064 | 5.9208 | 5.9426 | 5.9570 |
| Camarilla | 5.8890 | 5.8923 | 5.8956 | 5.8989 | 5.9022 | 5.9055 | 5.9089 |
| Woodie | 5.8446 | 5.8684 | 5.8808 | 5.9046 | 5.9170 | 5.9408 | 5.9532 |
| Fibonacci | 5.8702 | 5.8841 | 5.8926 | 5.9064 | 5.9203 | 5.9288 | 5.9426 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.8323 | 5.8655 | 5.8885 | 5.9217 | 5.9447 | 5.9779 | 6.0009 |
| Camarilla | 5.8961 | 5.9012 | 5.9064 | 5.9115 | 5.9167 | 5.9218 | 5.9270 |
| Woodie | 5.8272 | 5.8630 | 5.8834 | 5.9192 | 5.9396 | 5.9754 | 5.9958 |
| Fibonacci | 5.8655 | 5.8870 | 5.9002 | 5.9217 | 5.9432 | 5.9564 | 5.9779 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.5927 | 5.6789 | 5.7990 | 5.8852 | 6.0053 | 6.0915 | 6.2116 |
| Camarilla | 5.8625 | 5.8814 | 5.9003 | 5.9192 | 5.9381 | 5.9570 | 5.9759 |
| Woodie | 5.6098 | 5.6874 | 5.8161 | 5.8937 | 6.0224 | 6.1000 | 6.2287 |
| Fibonacci | 5.6789 | 5.7577 | 5.8064 | 5.8852 | 5.9640 | 6.0127 | 6.0915 |
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): | 46.75 | |
| MACD (12,26,9): | 0.0044 | |
| Directional Movement: | -1.9709 | |
| AROON (14): | 21.4286 | |
| DEMA (21): | 5.9222 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.9696 | |
| Elder Ray (13): | -0.0175 | |
| Super Trend (3,10): | 5.9666 | |
| Zig ZAG (10): | 5.8947 | |
| VORTEX (21): | 0.9828 | |
| Stochastique (14,3,5): | 25.37 | |
| TEMA (21): | 5.9109 | |
| Williams %R (14): | -91.58 | |
| Chande Momentum Oscillator (20): | -0.0413 | |
| Repulse (5,40,3): | -0.4914 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0247 | |
| Courbe Coppock: | 0.22 |
| MA7: | 5.9142 | |
| MA20: | 5.9139 | |
| MA50: | 5.8829 | |
| MA100: | 5.8390 | |
| MAexp7: | 5.9102 | |
| MAexp20: | 5.9128 | |
| MAexp50: | 5.8896 | |
| MAexp100: | 5.8625 | |
| Price / MA7: | -0.37% | |
| Price / MA20: | -0.37% | |
| Price / MA50: | +0.16% | |
| Price / MA100: | +0.91% | |
| Price / MAexp7: | -0.30% | |
| Price / MAexp20: | -0.35% | |
| Price / MAexp50: | +0.05% | |
| Price / MAexp100: | +0.51% |
Quotes :
-
Real time data
-
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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