CAD/PLN - 1H - Technical analysis published on 02/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
39%
28%
My opinion
Bearish under 2.9719 PLN
My targets
2.9532 PLN (-0.0120)
2.9236 PLN (-0.0416)
My analysis
The bearish trend is currently very strong for CAD/PLN. As long as the price remains below the resistance at 2.9719 PLN, you could try to take advantage of the bearish rally. The first bearish objective is located at 2.9532 PLN. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2.9236 PLN as an objective. Crossing it would then enable sellers to target 2.8955 PLN. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.3
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Additional analysis
Quotes
The CAD/PLN price is 2.9652 PLN. The price registered a decrease of -0.02% on the session with the lowest point at 2.9629 PLN and the highest point at 2.9693 PLN. The deviation from the price is +0.08% for the low point and -0.14% for the high point.2.9629
2.9693
2.9652
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 (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CAD/PLN in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
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 these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
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 | 2.8955 | 2.9236 | 2.9532 | 2.9652 | 2.9657 | 2.9719 | 2.9895 |
| Change (%) | -2.35% | -1.40% | -0.40% | - | +0.02% | +0.23% | +0.82% |
| Change | -0.0697 | -0.0416 | -0.0120 | - | +0.0005 | +0.0067 | +0.0243 |
| Level | Major | Minor | Intermediate | - | Intermediate | Minor | 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 | 2.9280 | 2.9451 | 2.9554 | 2.9725 | 2.9828 | 2.9999 | 3.0102 |
| Camarilla | 2.9582 | 2.9607 | 2.9632 | 2.9657 | 2.9682 | 2.9707 | 2.9732 |
| Woodie | 2.9246 | 2.9434 | 2.9520 | 2.9708 | 2.9794 | 2.9982 | 3.0068 |
| Fibonacci | 2.9451 | 2.9556 | 2.9620 | 2.9725 | 2.9830 | 2.9894 | 2.9999 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.9239 | 2.9448 | 2.9681 | 2.9890 | 3.0123 | 3.0332 | 3.0565 |
| Camarilla | 2.9793 | 2.9833 | 2.9874 | 2.9914 | 2.9955 | 2.9995 | 3.0036 |
| Woodie | 2.9251 | 2.9454 | 2.9693 | 2.9896 | 3.0135 | 3.0338 | 3.0577 |
| Fibonacci | 2.9448 | 2.9617 | 2.9721 | 2.9890 | 3.0059 | 3.0163 | 3.0332 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.8857 | 2.9180 | 2.9508 | 2.9831 | 3.0159 | 3.0482 | 3.0810 |
| Camarilla | 2.9656 | 2.9716 | 2.9775 | 2.9835 | 2.9895 | 2.9954 | 3.0014 |
| Woodie | 2.8859 | 2.9181 | 2.9510 | 2.9832 | 3.0161 | 3.0483 | 3.0812 |
| Fibonacci | 2.9180 | 2.9429 | 2.9583 | 2.9831 | 3.0080 | 3.0234 | 3.0482 |
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): | 35.56 | |
| MACD (12,26,9): | -0.0034 | |
| Directional Movement: | -9.8450 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 2.9642 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.9719 | |
| Elder Ray (13): | -0.0021 | |
| Super Trend (3,10): | 2.9761 | |
| Zig ZAG (10): | 2.9664 | |
| VORTEX (21): | 0.8339 | |
| Stochastique (14,3,5): | 39.13 | |
| TEMA (21): | 2.9643 | |
| Williams %R (14): | -67.19 | |
| Chande Momentum Oscillator (20): | 0.0006 | |
| Repulse (5,40,3): | -0.0537 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0187 | |
| Courbe Coppock: | 0.24 |
| MA7: | 2.9852 | |
| MA20: | 2.9797 | |
| MA50: | 2.9630 | |
| MA100: | 3.0311 | |
| MAexp7: | 2.9659 | |
| MAexp20: | 2.9688 | |
| MAexp50: | 2.9759 | |
| MAexp100: | 2.9822 | |
| Price / MA7: | -0.67% | |
| Price / MA20: | -0.49% | |
| Price / MA50: | +0.07% | |
| Price / MA100: | -2.17% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.12% | |
| Price / MAexp50: | -0.36% | |
| Price / MAexp100: | -0.57% |
Quotes :
-
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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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…
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