CHF/MXN - 1H - Technical analysis published on 03/24/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
11%
44%
44%
My opinion
Bullish above 24.3898 MXN
My targets
25.4157 MXN (+0.0678)
25.6888 MXN (+0.3409)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on CHF/MXN. As long as you are above the support located at 24.3898 MXN, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 25.4157 MXN would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 25.6888 MXN as an objective. If the support 24.3898 MXN were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
FORCE
0
10
1.4
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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
CHF/MXN rating 25.3479 MXN. The price has increased by -1.73% since the last closing and was between 25.2579 MXN and 25.8473 MXN. This implies that the price is at +0.36% from its lowest and at -1.93% from its highest.25.2579
25.8473
25.3479
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in 1H of this CHF/MXN chart shows a bullish trend. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a slightly bearish signal.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 22.3982 | 23.5376 | 24.3898 | 25.3479 | 25.4157 | 25.6888 |
| Change (%) | -11.64% | -7.14% | -3.78% | - | +0.27% | +1.34% |
| Change | -2.9497 | -1.8103 | -0.9581 | - | +0.0678 | +0.3409 |
| Level | Minor | Minor | Intermediate | - | 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 | 23.9234 | 24.3364 | 25.0650 | 25.4780 | 26.2066 | 26.6196 | 27.3482 |
| Camarilla | 25.4796 | 25.5842 | 25.6889 | 25.7935 | 25.8982 | 26.0028 | 26.1074 |
| Woodie | 24.0811 | 24.4153 | 25.2227 | 25.5569 | 26.3643 | 26.6985 | 27.5059 |
| Fibonacci | 24.3364 | 24.7725 | 25.0419 | 25.4780 | 25.9141 | 26.1835 | 26.6196 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.3201 | 21.4667 | 23.1226 | 24.2692 | 25.9251 | 27.0717 | 28.7276 |
| Camarilla | 24.0079 | 24.2648 | 24.5217 | 24.7786 | 25.0355 | 25.2924 | 25.5493 |
| Woodie | 20.5749 | 21.5940 | 23.3774 | 24.3965 | 26.1799 | 27.1990 | 28.9824 |
| Fibonacci | 21.4667 | 22.5372 | 23.1986 | 24.2692 | 25.3397 | 26.0011 | 27.0717 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.4115 | 18.1313 | 19.2270 | 19.9468 | 21.0425 | 21.7623 | 22.8580 |
| Camarilla | 19.8235 | 19.9900 | 20.1564 | 20.3228 | 20.4892 | 20.6556 | 20.8221 |
| Woodie | 17.5996 | 18.2253 | 19.4151 | 20.0408 | 21.2306 | 21.8563 | 23.0461 |
| Fibonacci | 18.1313 | 18.8248 | 19.2533 | 19.9468 | 20.6403 | 21.0688 | 21.7623 |
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): | 44.88 | |
| MACD (12,26,9): | 0.0349 | |
| Directional Movement: | -4.4082 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 25.5645 | |
| Parabolic SAR (0,02-0,02-0,2): | 25.6282 | |
| Elder Ray (13): | -0.0504 | |
| Super Trend (3,10): | 25.3064 | |
| Zig ZAG (10): | 25.3255 | |
| VORTEX (21): | 0.9347 | |
| Stochastique (14,3,5): | 24.06 | |
| TEMA (21): | 25.4380 | |
| Williams %R (14): | -86.16 | |
| Chande Momentum Oscillator (20): | -0.2621 | |
| Repulse (5,40,3): | -0.9256 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0551 | |
| Courbe Coppock: | 2.01 |
| MA7: | 24.6723 | |
| MA20: | 22.4943 | |
| MA50: | 20.5460 | |
| MA100: | 19.9971 | |
| MAexp7: | 25.4745 | |
| MAexp20: | 25.4755 | |
| MAexp50: | 25.2645 | |
| MAexp100: | 24.9162 | |
| Price / MA7: | +2.74% | |
| Price / MA20: | +12.69% | |
| Price / MA50: | +23.37% | |
| Price / MA100: | +26.76% | |
| Price / MAexp7: | -0.50% | |
| Price / MAexp20: | -0.50% | |
| Price / MAexp50: | +0.33% | |
| Price / MAexp100: | +1.73% |
This member declared not having a position on this financial instrument or a related financial instrument.
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