CAD/HUF - Daily - Technical analysis published on 02/17/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
6%
44%
My opinion
Bearish under 273.64 HUF
My targets
264.95 HUF (-4.47)
259.86 HUF (-9.56)
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 273.64 HUF remains possible. It is advisable to trade CAD/HUF with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 273.64 HUF. The next bearish objective for sellers is set at 264.95 HUF. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 259.86 HUF. In case of crossing, the next objective would be the support located at 248.16 HUF. PS: if there is a bullish break in the resistance located at 273.64 HUF 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
2.5
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Additional analysis
Quotes
CAD/HUF rating 269.42 HUF. On the day, this instrument gained +0.86% and was between 267.08 HUF and 269.68 HUF. This implies that the price is at +0.88% from its lowest and at -0.10% from its highest.267.08
269.68
269.42
Here is a more detailed summary of the historical variations registered by CAD/HUF:
Near a new LOW record (1 year)
Type : Bearish
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
A technical analysis in Daily of this CAD/HUF chart shows a bearish trend. 78.57% 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. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
In fact, only 9 technical indicators out of 18 studied are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 248.16 | 259.86 | 264.95 | 269.42 | 273.64 | 283.39 | 289.09 |
| Change (%) | -7.89% | -3.55% | -1.66% | - | +1.57% | +5.19% | +7.30% |
| Change | -21.26 | -9.56 | -4.47 | - | +4.22 | +13.97 | +19.67 |
| Level | Major | Minor | Major | - | Intermediate | Minor | Minor |
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 | 261.93 | 263.46 | 265.29 | 266.82 | 268.65 | 270.18 | 272.01 |
| Camarilla | 266.20 | 266.50 | 266.81 | 267.12 | 267.43 | 267.74 | 268.04 |
| Woodie | 262.08 | 263.54 | 265.44 | 266.90 | 268.80 | 270.26 | 272.16 |
| Fibonacci | 263.46 | 264.74 | 265.54 | 266.82 | 268.10 | 268.90 | 270.18 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 257.72 | 262.02 | 266.78 | 271.08 | 275.84 | 280.14 | 284.90 |
| Camarilla | 269.06 | 269.89 | 270.72 | 271.55 | 272.38 | 273.21 | 274.04 |
| Woodie | 257.96 | 262.14 | 267.02 | 271.20 | 276.08 | 280.26 | 285.14 |
| Fibonacci | 262.02 | 265.48 | 267.62 | 271.08 | 274.54 | 276.68 | 280.14 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 245.29 | 254.71 | 262.68 | 272.10 | 280.07 | 289.49 | 297.46 |
| Camarilla | 265.88 | 267.47 | 269.07 | 270.66 | 272.25 | 273.85 | 275.44 |
| Woodie | 244.58 | 254.35 | 261.97 | 271.74 | 279.36 | 289.13 | 296.75 |
| Fibonacci | 254.71 | 261.35 | 265.45 | 272.10 | 278.74 | 282.84 | 289.49 |
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): | 48.05 | |
| MACD (12,26,9): | -1.9300 | |
| Directional Movement: | -2.26 | |
| AROON (14): | -42.85 | |
| DEMA (21): | 266.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 274.16 | |
| Elder Ray (13): | 0.05 | |
| Super Trend (3,10): | 277.24 | |
| Zig ZAG (10): | 269.39 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 35.90 | |
| TEMA (21): | 267.37 | |
| Williams %R (14): | -47.62 | |
| Chande Momentum Oscillator (20): | 2.56 | |
| Repulse (5,40,3): | 1.0000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1100 | |
| Courbe Coppock: | 0.36 |
| MA7: | 267.59 | |
| MA20: | 268.47 | |
| MA50: | 273.61 | |
| MA100: | 287.42 | |
| MAexp7: | 267.80 | |
| MAexp20: | 269.20 | |
| MAexp50: | 274.77 | |
| MAexp100: | 282.10 | |
| Price / MA7: | +0.68% | |
| Price / MA20: | +0.35% | |
| Price / MA50: | -1.53% | |
| Price / MA100: | -6.26% | |
| Price / MAexp7: | +0.60% | |
| Price / MAexp20: | +0.08% | |
| Price / MAexp50: | -1.95% | |
| Price / MAexp100: | -4.49% |
Quotes :
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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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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