CAD/MXN - 1H - Technical analysis published on 07/16/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 16.507 MXN
My targets
16.642 MXN (+0.058)
16.688 MXN (+0.104)
My analysis
The strong short-term increase for CAD/MXN reinforces the current slightly bullish trend. As long as the price remains above 16.507 MXN, you could take advantage of this bullish acceleration. The first bullish objective is located at 16.642 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 16.688 MXN as an objective. Crossing it would then enable buyers to target 16.759 MXN. A return to 16.507 MXN would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5
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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/MXN price is 16.584 MXN. The price has increased by +0.32% since the last closing and was between 16.531 MXN and 16.601 MXN. This implies that the price is at +0.32% from its lowest and at -0.10% from its highest.16.531
16.601
16.584
Here is a more detailed summary of the historical variations registered by CAD/MXN:
Technical
A technical analysis in 1H of this CAD/MXN chart shows a slightly bullish trend. 60.71% of the signals given by moving averages are bullish. The overall trend could accelerate as strong bullish signals from short-term moving averages are expected. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
In fact, 13 technical indicators on 18 studied are currently bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 16.403 | 16.450 | 16.507 | 16.584 | 16.586 | 16.642 | 16.688 |
| Change (%) | -1.09% | -0.81% | -0.46% | - | +0.01% | +0.35% | +0.63% |
| Change | -0.181 | -0.134 | -0.077 | - | +0.002 | +0.058 | +0.104 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.246 | 16.325 | 16.428 | 16.507 | 16.610 | 16.689 | 16.792 |
| Camarilla | 16.482 | 16.499 | 16.515 | 16.532 | 16.549 | 16.565 | 16.582 |
| Woodie | 16.259 | 16.331 | 16.441 | 16.513 | 16.623 | 16.695 | 16.805 |
| Fibonacci | 16.325 | 16.394 | 16.437 | 16.507 | 16.576 | 16.619 | 16.689 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.769 | 16.069 | 16.294 | 16.594 | 16.819 | 17.119 | 17.344 |
| Camarilla | 16.374 | 16.422 | 16.470 | 16.518 | 16.566 | 16.614 | 16.662 |
| Woodie | 15.731 | 16.050 | 16.256 | 16.575 | 16.781 | 17.100 | 17.306 |
| Fibonacci | 16.069 | 16.270 | 16.394 | 16.594 | 16.795 | 16.919 | 17.119 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.169 | 15.535 | 16.246 | 16.612 | 17.323 | 17.689 | 18.400 |
| Camarilla | 16.660 | 16.759 | 16.857 | 16.956 | 17.055 | 17.154 | 17.252 |
| Woodie | 15.341 | 15.621 | 16.418 | 16.698 | 17.495 | 17.775 | 18.572 |
| Fibonacci | 15.535 | 15.947 | 16.201 | 16.612 | 17.024 | 17.278 | 17.689 |
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): | 59.51 | |
| MACD (12,26,9): | 0.0190 | |
| Directional Movement: | 12.861 | |
| AROON (14): | 64.285 | |
| DEMA (21): | 16.568 | |
| Parabolic SAR (0,02-0,02-0,2): | 16.504 | |
| Elder Ray (13): | 0.023 | |
| Super Trend (3,10): | 16.492 | |
| Zig ZAG (10): | 16.578 | |
| VORTEX (21): | 1.2330 | |
| Stochastique (14,3,5): | 75.66 | |
| TEMA (21): | 16.592 | |
| Williams %R (14): | -33.71 | |
| Chande Momentum Oscillator (20): | 0.049 | |
| Repulse (5,40,3): | -0.0450 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0110 | |
| Courbe Coppock: | 0.80 |
| MA7: | 16.605 | |
| MA20: | 16.654 | |
| MA50: | 16.565 | |
| MA100: | 16.593 | |
| MAexp7: | 16.573 | |
| MAexp20: | 16.549 | |
| MAexp50: | 16.547 | |
| MAexp100: | 16.573 | |
| Price / MA7: | -0.13% | |
| Price / MA20: | -0.42% | |
| Price / MA50: | +0.11% | |
| Price / MA100: | -0.05% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | +0.22% | |
| Price / MAexp100: | +0.07% |
Quotes :
2020-07-16 07:38:54
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Real time data
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Forex
News
The last news published on CAD/MXN at the time of the generation of this analysis 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.
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