CAD/HKD - 1H - Technical analysis published on 10/19/2023 (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
61%
0%
39%
My opinion
Bearish under 5.7275 HKD
My targets
5.6960 HKD (-0.0109)
5.6592 HKD (-0.0477)
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 5.7275 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 5.7275 HKD. The next bearish objective for sellers is set at 5.6960 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 5.6592 HKD. In case of crossing, the next objective would be the support located at 5.3564 HKD. PS: if there is a bullish break in the resistance located at 5.7275 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.
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
1.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/HKD rating 5.7069 HKD. On the day, this instrument lost -0.03% and was between 5.6939 HKD and 5.7103 HKD. This implies that the price is at +0.23% from its lowest and at -0.06% from its highest.5.6939
5.7103
5.7069
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
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 this 1H chart of CAD/HKD indicates that the overall trend is bearish. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
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 these signals:
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 | 5.3564 | 5.6592 | 5.6960 | 5.7069 | 5.7100 | 5.7275 | 5.7425 |
| Change (%) | -6.14% | -0.84% | -0.19% | - | +0.05% | +0.36% | +0.62% |
| Change | -0.3505 | -0.0477 | -0.0109 | - | +0.0031 | +0.0206 | +0.0356 |
| Level | Major | Intermediate | Intermediate | - | Minor | 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 | 5.6555 | 5.6817 | 5.6951 | 5.7213 | 5.7347 | 5.7609 | 5.7743 |
| Camarilla | 5.6976 | 5.7012 | 5.7049 | 5.7085 | 5.7121 | 5.7158 | 5.7194 |
| Woodie | 5.6491 | 5.6785 | 5.6887 | 5.7181 | 5.7283 | 5.7577 | 5.7679 |
| Fibonacci | 5.6817 | 5.6968 | 5.7062 | 5.7213 | 5.7364 | 5.7458 | 5.7609 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.6429 | 5.6765 | 5.7029 | 5.7365 | 5.7629 | 5.7965 | 5.8229 |
| Camarilla | 5.7129 | 5.7184 | 5.7239 | 5.7294 | 5.7349 | 5.7404 | 5.7459 |
| Woodie | 5.6394 | 5.6747 | 5.6994 | 5.7347 | 5.7594 | 5.7947 | 5.8194 |
| Fibonacci | 5.6765 | 5.6994 | 5.7136 | 5.7365 | 5.7594 | 5.7736 | 5.7965 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.5951 | 5.6597 | 5.7134 | 5.7780 | 5.8317 | 5.8963 | 5.9500 |
| Camarilla | 5.7347 | 5.7455 | 5.7564 | 5.7672 | 5.7780 | 5.7889 | 5.7997 |
| Woodie | 5.5898 | 5.6570 | 5.7081 | 5.7753 | 5.8264 | 5.8936 | 5.9447 |
| Fibonacci | 5.6597 | 5.7049 | 5.7328 | 5.7780 | 5.8232 | 5.8511 | 5.8963 |
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): | 49.95 | |
| MACD (12,26,9): | -0.0048 | |
| Directional Movement: | -4.5408 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 5.6983 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.6948 | |
| Elder Ray (13): | -0.0001 | |
| Super Trend (3,10): | 5.7127 | |
| Zig ZAG (10): | 5.7082 | |
| VORTEX (21): | 0.8905 | |
| Stochastique (14,3,5): | 65.12 | |
| TEMA (21): | 5.6991 | |
| Williams %R (14): | -3.38 | |
| Chande Momentum Oscillator (20): | 0.0083 | |
| Repulse (5,40,3): | 0.1714 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0171 | |
| Courbe Coppock: | 0.15 |
| MA7: | 5.7267 | |
| MA20: | 5.7474 | |
| MA50: | 5.7682 | |
| MA100: | 5.8319 | |
| MAexp7: | 5.7028 | |
| MAexp20: | 5.7056 | |
| MAexp50: | 5.7154 | |
| MAexp100: | 5.7229 | |
| Price / MA7: | -0.35% | |
| Price / MA20: | -0.70% | |
| Price / MA50: | -1.06% | |
| Price / MA100: | -2.14% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | -0.15% | |
| Price / MAexp100: | -0.28% |
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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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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