CAD/HKD - 1H - Technical analysis published on 02/06/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 5.8545 HKD
My targets
5.8347 HKD (-0.0109)
5.7985 HKD (-0.0471)
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 5.8545 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 5.8545 HKD. The next bearish objective for sellers is set at 5.8347 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 5.7985 HKD. In case of crossing, the next objective would be the support located at 5.7428 HKD. PS: if there is a bullish break in the resistance located at 5.8545 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, technical indicators are in opposition with the general bearish 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
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 5.8456 HKD. On the day, this instrument lost +0.04% and was traded between 5.8426 HKD and 5.8481 HKD over the period. The price is currently at +0.05% from its lowest and -0.04% from its highest.5.8426
5.8481
5.8456
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CAD/HKD:
Technical
Technical analysis of this 1H chart of CAD/HKD indicates that the overall trend is bearish. The signals given by moving averages are 75% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied 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
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Aroon indicator bearish trend
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.7428 | 5.7985 | 5.8347 | 5.8456 | 5.8545 | 5.8695 | 5.8827 |
| Change (%) | -1.76% | -0.81% | -0.19% | - | +0.15% | +0.41% | +0.63% |
| Change | -0.1028 | -0.0471 | -0.0109 | - | +0.0089 | +0.0239 | +0.0371 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Minor | Major |
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 | 5.8155 | 5.8254 | 5.8344 | 5.8443 | 5.8533 | 5.8632 | 5.8722 |
| Camarilla | 5.8382 | 5.8399 | 5.8417 | 5.8434 | 5.8451 | 5.8469 | 5.8486 |
| Woodie | 5.8151 | 5.8252 | 5.8340 | 5.8441 | 5.8529 | 5.8630 | 5.8718 |
| Fibonacci | 5.8254 | 5.8326 | 5.8371 | 5.8443 | 5.8515 | 5.8560 | 5.8632 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.7935 | 5.8267 | 5.8468 | 5.8800 | 5.9001 | 5.9333 | 5.9534 |
| Camarilla | 5.8523 | 5.8572 | 5.8621 | 5.8670 | 5.8719 | 5.8768 | 5.8817 |
| Woodie | 5.7871 | 5.8234 | 5.8404 | 5.8767 | 5.8937 | 5.9300 | 5.9470 |
| Fibonacci | 5.8267 | 5.8470 | 5.8596 | 5.8800 | 5.9003 | 5.9129 | 5.9333 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.6675 | 5.7637 | 5.8153 | 5.9115 | 5.9631 | 6.0593 | 6.1109 |
| Camarilla | 5.8264 | 5.8399 | 5.8535 | 5.8670 | 5.8806 | 5.8941 | 5.9077 |
| Woodie | 5.6453 | 5.7526 | 5.7931 | 5.9004 | 5.9409 | 6.0482 | 6.0887 |
| Fibonacci | 5.7637 | 5.8201 | 5.8550 | 5.9115 | 5.9679 | 6.0028 | 6.0593 |
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): | 51.53 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 6.4278 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 5.8440 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.8484 | |
| Elder Ray (13): | 0.0017 | |
| Super Trend (3,10): | 5.8521 | |
| Zig ZAG (10): | 5.8445 | |
| VORTEX (21): | 1.0031 | |
| Stochastique (14,3,5): | 66.26 | |
| TEMA (21): | 5.8449 | |
| Williams %R (14): | -38.30 | |
| Chande Momentum Oscillator (20): | 0.0042 | |
| Repulse (5,40,3): | -0.0418 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0013 | |
| Courbe Coppock: | 0.06 |
| MA7: | 5.8589 | |
| MA20: | 5.9093 | |
| MA50: | 5.9276 | |
| MA100: | 5.9280 | |
| MAexp7: | 5.8447 | |
| MAexp20: | 5.8444 | |
| MAexp50: | 5.8467 | |
| MAexp100: | 5.8544 | |
| Price / MA7: | -0.23% | |
| Price / MA20: | -1.08% | |
| Price / MA50: | -1.38% | |
| Price / MA100: | -1.39% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | -0.15% |
This member declared not having a position on this financial instrument or a related financial instrument.
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