CAD/MXN - 1H - Technical analysis published on 05/21/2020 (GMT)
- Who voted?
- 228
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 16.739 MXN
My targets
16.615 MXN (-0.039)
16.340 MXN (-0.314)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on CAD/MXN as long as the price remains well below 16.739 MXN. The sellers” bearish objective is set at 16.615 MXN. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 16.340 MXN. In case of crossing, the next objective would be the support located at 15.929 MXN. 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 not called into question, despite technical indicators being neutral.
FORCE
0
10
6.8
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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/MXN price is 16.654 MXN. The price registered a decrease of -0.22% on the session and was traded between 16.591 MXN and 16.706 MXN over the period. The price is currently at +0.38% from its lowest and -0.31% from its highest.16.591
16.706
16.654
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this CAD/MXN 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 market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support 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 | 15.157 | 15.929 | 16.642 | 16.654 | 16.739 | 16.927 | 17.040 |
| Change (%) | -8.99% | -4.35% | -0.07% | - | +0.51% | +1.64% | +2.32% |
| Change | -1.497 | -0.725 | -0.012 | - | +0.085 | +0.273 | +0.386 |
| Level | Intermediate | Minor | Major | - | Minor | Intermediate | 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 | 16.133 | 16.367 | 16.529 | 16.763 | 16.925 | 17.159 | 17.321 |
| Camarilla | 16.582 | 16.618 | 16.655 | 16.691 | 16.727 | 16.764 | 16.800 |
| Woodie | 16.097 | 16.349 | 16.493 | 16.745 | 16.889 | 17.141 | 17.285 |
| Fibonacci | 16.367 | 16.518 | 16.612 | 16.763 | 16.914 | 17.008 | 17.159 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.340 | 16.615 | 16.794 | 17.069 | 17.248 | 17.523 | 17.702 |
| Camarilla | 16.847 | 16.889 | 16.930 | 16.972 | 17.014 | 17.055 | 17.097 |
| Woodie | 16.291 | 16.591 | 16.745 | 17.045 | 17.199 | 17.499 | 17.653 |
| Fibonacci | 16.615 | 16.789 | 16.896 | 17.069 | 17.243 | 17.350 | 17.523 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.143 | 15.915 | 16.640 | 17.412 | 18.137 | 18.909 | 19.634 |
| Camarilla | 16.954 | 17.092 | 17.229 | 17.366 | 17.503 | 17.640 | 17.778 |
| Woodie | 15.121 | 15.903 | 16.618 | 17.400 | 18.115 | 18.897 | 19.612 |
| Fibonacci | 15.915 | 16.487 | 16.840 | 17.412 | 17.984 | 18.337 | 18.909 |
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): | 37.22 | |
| MACD (12,26,9): | -0.0550 | |
| Directional Movement: | -17.556 | |
| AROON (14): | -64.285 | |
| DEMA (21): | 16.631 | |
| Parabolic SAR (0,02-0,02-0,2): | 16.705 | |
| Elder Ray (13): | -0.056 | |
| Super Trend (3,10): | 16.751 | |
| Zig ZAG (10): | 16.643 | |
| VORTEX (21): | 0.7950 | |
| Stochastique (14,3,5): | 26.40 | |
| TEMA (21): | 16.617 | |
| Williams %R (14): | -75.86 | |
| Chande Momentum Oscillator (20): | -0.072 | |
| Repulse (5,40,3): | -0.4060 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0530 | |
| Courbe Coppock: | 0.68 |
| MA7: | 16.926 | |
| MA20: | 17.159 | |
| MA50: | 17.023 | |
| MA100: | 15.713 | |
| MAexp7: | 16.656 | |
| MAexp20: | 16.700 | |
| MAexp50: | 16.796 | |
| MAexp100: | 16.884 | |
| Price / MA7: | -1.61% | |
| Price / MA20: | -2.94% | |
| Price / MA50: | -2.17% | |
| Price / MA100: | +5.99% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.28% | |
| Price / MAexp50: | -0.85% | |
| Price / MAexp100: | -1.36% |
News
Don"t forget to follow the news on CAD/MXN. At the time of publication of this analysis, the latest news was as follows:
FX Closing Bell April 25, Trump’s Tough Tariff Talk Awakens CAD & MXN BearsThis member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis CAD/MXN - 1H