CAD/MXN - 1H - Technical analysis published on 08/13/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
89%
0%
11%
My opinion
Bullish above 15.925 MXN
My targets
16.008 MXN (+0.058)
16.049 MXN (+0.099)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for CAD/MXN as long as the price remains well above 15.925 MXN. The buyers' bullish objective is set at 16.008 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 16.049 MXN. If there is any crossing, the next objective would be the resistance located at 16.083 MXN. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 16.008 MXN. On this resistance, against the trend traders who would like to go short on CAD/MXN with a bearish signal from their trading strategy, should not hesitate to act.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
3.4
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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
CAD/MXN rating 15.950 MXN. The price has increased by +0.07% since the last closing and was between 15.925 MXN and 15.954 MXN. This implies that the price is at +0.16% from its lowest and at -0.03% from its highest.15.925
15.954
15.950
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/MXN chart shows a slightly bearish trend. 53.57% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, 16 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
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 | 15.797 | 15.878 | 15.925 | 15.950 | 16.008 | 16.049 | 16.083 |
| Change (%) | -0.96% | -0.45% | -0.16% | - | +0.36% | +0.62% | +0.83% |
| Change | -0.153 | -0.072 | -0.025 | - | +0.058 | +0.099 | +0.133 |
| Level | Minor | Intermediate | Major | - | Minor | 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 | 15.797 | 15.830 | 15.884 | 15.917 | 15.971 | 16.004 | 16.058 |
| Camarilla | 15.915 | 15.923 | 15.931 | 15.939 | 15.947 | 15.955 | 15.963 |
| Woodie | 15.809 | 15.835 | 15.896 | 15.922 | 15.983 | 16.009 | 16.070 |
| Fibonacci | 15.830 | 15.863 | 15.883 | 15.917 | 15.950 | 15.970 | 16.004 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.642 | 15.719 | 15.837 | 15.914 | 16.032 | 16.109 | 16.227 |
| Camarilla | 15.900 | 15.918 | 15.936 | 15.954 | 15.972 | 15.990 | 16.008 |
| Woodie | 15.662 | 15.729 | 15.857 | 15.924 | 16.052 | 16.119 | 16.247 |
| Fibonacci | 15.719 | 15.794 | 15.840 | 15.914 | 15.989 | 16.035 | 16.109 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.025 | 15.316 | 15.626 | 15.917 | 16.227 | 16.518 | 16.828 |
| Camarilla | 15.771 | 15.826 | 15.881 | 15.936 | 15.991 | 16.046 | 16.101 |
| Woodie | 15.035 | 15.321 | 15.636 | 15.922 | 16.237 | 16.523 | 16.838 |
| Fibonacci | 15.316 | 15.546 | 15.687 | 15.917 | 16.147 | 16.288 | 16.518 |
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): | 56.51 | |
| MACD (12,26,9): | 0.0020 | |
| Directional Movement: | 3.082 | |
| AROON (14): | 85.714 | |
| DEMA (21): | 15.927 | |
| Parabolic SAR (0,02-0,02-0,2): | 15.897 | |
| Elder Ray (13): | 0.012 | |
| Super Trend (3,10): | 15.946 | |
| Zig ZAG (10): | 15.944 | |
| VORTEX (21): | 1.0850 | |
| Stochastique (14,3,5): | 91.71 | |
| TEMA (21): | 15.941 | |
| Williams %R (14): | -3.49 | |
| Chande Momentum Oscillator (20): | 0.075 | |
| Repulse (5,40,3): | 0.0630 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0040 | |
| Courbe Coppock: | 0.54 |
| MA7: | 15.961 | |
| MA20: | 15.935 | |
| MA50: | 16.089 | |
| MA100: | 16.188 | |
| MAexp7: | 15.937 | |
| MAexp20: | 15.929 | |
| MAexp50: | 15.940 | |
| MAexp100: | 15.950 | |
| Price / MA7: | -0.07% | |
| Price / MA20: | +0.09% | |
| Price / MA50: | -0.86% | |
| Price / MA100: | -1.47% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.13% | |
| Price / MAexp50: | +0.06% | |
| Price / MAexp100: | -0% |
Quotes :
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Real time data
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Forex
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.
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