CAD/HUF - 1H - Technical analysis published on 02/21/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
50%
39%
My opinion
Bearish under 266.50 HUF
My targets
264.80 HUF (-0.31)
262.79 HUF (-2.32)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on CAD/HUF as long as the price remains well below 266.50 HUF. The sellers' bearish objective is set at 264.80 HUF. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 262.79 HUF. In case of crossing, the next objective would be the support located at 259.86 HUF. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.3
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.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/HUF rating 265.11 HUF. The price registered a decrease of -0.02% on the session with the lowest point at 264.87 HUF and the highest point at 265.89 HUF. The deviation from the price is +0.09% for the low point and -0.29% for the high point.264.87
265.89
265.11
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CAD/HUF:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/HUF chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is low given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal support
Type : Bullish
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 | 259.86 | 262.79 | 264.80 | 265.11 | 266.50 | 267.22 | 267.82 |
| Change (%) | -1.98% | -0.88% | -0.12% | - | +0.52% | +0.80% | +1.02% |
| Change | -5.25 | -2.32 | -0.31 | - | +1.39 | +2.11 | +2.71 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Intermediate | 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 | 261.01 | 262.91 | 264.03 | 265.93 | 267.05 | 268.95 | 270.07 |
| Camarilla | 264.33 | 264.61 | 264.88 | 265.16 | 265.44 | 265.71 | 265.99 |
| Woodie | 260.63 | 262.72 | 263.65 | 265.74 | 266.67 | 268.76 | 269.69 |
| Fibonacci | 262.91 | 264.06 | 264.77 | 265.93 | 267.08 | 267.79 | 268.95 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 263.33 | 264.70 | 266.27 | 267.64 | 269.21 | 270.58 | 272.15 |
| Camarilla | 267.03 | 267.30 | 267.57 | 267.84 | 268.11 | 268.38 | 268.65 |
| Woodie | 263.43 | 264.75 | 266.37 | 267.69 | 269.31 | 270.63 | 272.25 |
| Fibonacci | 264.70 | 265.82 | 266.52 | 267.64 | 268.76 | 269.46 | 270.58 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 245.67 | 251.31 | 257.87 | 263.51 | 270.07 | 275.71 | 282.27 |
| Camarilla | 261.08 | 262.19 | 263.31 | 264.43 | 265.55 | 266.67 | 267.79 |
| Woodie | 246.13 | 251.54 | 258.33 | 263.74 | 270.53 | 275.94 | 282.73 |
| Fibonacci | 251.31 | 255.97 | 258.85 | 263.51 | 268.17 | 271.05 | 275.71 |
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): | 40.07 | |
| MACD (12,26,9): | -0.2000 | |
| Directional Movement: | -3.64 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 265.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 265.48 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 265.93 | |
| Zig ZAG (10): | 265.13 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 16.82 | |
| TEMA (21): | 265.12 | |
| Williams %R (14): | -76.47 | |
| Chande Momentum Oscillator (20): | -0.56 | |
| Repulse (5,40,3): | -0.0300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.20 |
| MA7: | 266.84 | |
| MA20: | 266.19 | |
| MA50: | 262.74 | |
| MA100: | 261.67 | |
| MAexp7: | 265.15 | |
| MAexp20: | 265.32 | |
| MAexp50: | 265.86 | |
| MAexp100: | 266.46 | |
| Price / MA7: | -0.65% | |
| Price / MA20: | -0.41% | |
| Price / MA50: | +0.90% | |
| Price / MA100: | +1.31% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.08% | |
| Price / MAexp50: | -0.28% | |
| Price / MAexp100: | -0.51% |
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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