CAD/PLN - Daily - Technical analysis published on 02/10/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
83%
0%
17%
My opinion
Bullish above 3.3004 PLN
My targets
3.3881 PLN (+0.0476)
3.4573 PLN (+0.1168)
My analysis
The strong short-term increase of CAD/PLN should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 3.3004 PLN, a purchase could be considered. The first bullish objective is located at 3.3881 PLN. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 3.4573 PLN. If there is any crossing, the next objective would be the resistance at 3.5802 PLN. Caution, if there is a return under 3.3004 PLN, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.
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
4.1
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Additional analysis
Quotes
The CAD/PLN price is 3.3405 PLN. The price has increased by +1.46% since the last closing and was between 3.2895 PLN and 3.3411 PLN. This implies that the price is at +1.55% from its lowest and at -0.02% from its highest.3.2895
3.3411
3.3405
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CAD/PLN indicates that the overall trend is not clearly defined. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
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 | 3.0148 | 3.1987 | 3.3004 | 3.3405 | 3.3407 | 3.4573 | 3.5802 |
| Change (%) | -9.75% | -4.24% | -1.20% | - | +0.01% | +3.50% | +7.18% |
| Change | -0.3257 | -0.1418 | -0.0401 | - | +0.0002 | +0.1168 | +0.2397 |
| Level | Intermediate | Major | Major | - | Minor | Major | 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 | 3.2657 | 3.2721 | 3.2823 | 3.2887 | 3.2989 | 3.3053 | 3.3155 |
| Camarilla | 3.2879 | 3.2895 | 3.2910 | 3.2925 | 3.2940 | 3.2955 | 3.2971 |
| Woodie | 3.2676 | 3.2731 | 3.2842 | 3.2897 | 3.3008 | 3.3063 | 3.3174 |
| Fibonacci | 3.2721 | 3.2784 | 3.2824 | 3.2887 | 3.2950 | 3.2990 | 3.3053 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.1695 | 3.1885 | 3.2263 | 3.2453 | 3.2831 | 3.3021 | 3.3399 |
| Camarilla | 3.2486 | 3.2538 | 3.2590 | 3.2642 | 3.2694 | 3.2746 | 3.2798 |
| Woodie | 3.1790 | 3.1932 | 3.2358 | 3.2500 | 3.2926 | 3.3068 | 3.3494 |
| Fibonacci | 3.1885 | 3.2102 | 3.2236 | 3.2453 | 3.2670 | 3.2804 | 3.3021 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.1283 | 3.1716 | 3.2149 | 3.2582 | 3.3015 | 3.3448 | 3.3881 |
| Camarilla | 3.2345 | 3.2424 | 3.2504 | 3.2583 | 3.2662 | 3.2742 | 3.2821 |
| Woodie | 3.1284 | 3.1716 | 3.2150 | 3.2582 | 3.3016 | 3.3448 | 3.3882 |
| Fibonacci | 3.1716 | 3.2047 | 3.2251 | 3.2582 | 3.2913 | 3.3117 | 3.3448 |
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): | 65.25 | |
| MACD (12,26,9): | 0.0113 | |
| Directional Movement: | 17.3128 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 3.2765 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.2271 | |
| Elder Ray (13): | 0.0362 | |
| Super Trend (3,10): | 3.2167 | |
| Zig ZAG (10): | 3.3257 | |
| VORTEX (21): | 1.0924 | |
| Stochastique (14,3,5): | 79.65 | |
| TEMA (21): | 3.2998 | |
| Williams %R (14): | -5.44 | |
| Chande Momentum Oscillator (20): | 0.0991 | |
| Repulse (5,40,3): | 1.7863 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 2.78 |
| MA7: | 3.2846 | |
| MA20: | 3.2565 | |
| MA50: | 3.2510 | |
| MA100: | 3.3734 | |
| MAexp7: | 3.2900 | |
| MAexp20: | 3.2670 | |
| MAexp50: | 3.2838 | |
| MAexp100: | 3.3422 | |
| Price / MA7: | +1.70% | |
| Price / MA20: | +2.58% | |
| Price / MA50: | +2.75% | |
| Price / MA100: | -0.98% | |
| Price / MAexp7: | +1.54% | |
| Price / MAexp20: | +2.26% | |
| Price / MAexp50: | +1.73% | |
| Price / MAexp100: | -0.04% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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