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CAD/HKD
CAD HKD
- HKD (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: CADHKD
ISIN:

CAD/HKD - 1H - Technical analysis published on 02/06/2020 (GMT)

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  • Timeframe : 1H
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  • 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

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.

Vincent Launay
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

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.

Central Gaps

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:

Central Indicators

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:

Central Indicators

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:

Central Patterns

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


S3S2S1PriceR1R2R3
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
Standard5.81555.82545.83445.84435.85335.86325.8722
Camarilla5.83825.83995.84175.84345.84515.84695.8486
Woodie5.81515.82525.83405.84415.85295.86305.8718
Fibonacci5.82545.83265.83715.84435.85155.85605.8632


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard5.79355.82675.84685.88005.90015.93335.9534
Camarilla5.85235.85725.86215.86705.87195.87685.8817
Woodie5.78715.82345.84045.87675.89375.93005.9470
Fibonacci5.82675.84705.85965.88005.90035.91295.9333


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard5.66755.76375.81535.91155.96316.05936.1109
Camarilla5.82645.83995.85355.86705.88065.89415.9077
Woodie5.64535.75265.79315.90045.94096.04826.0887
Fibonacci5.76375.82015.85505.91155.96796.00286.0593

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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