CHF/TRY - 1H - Technical analysis published on 06/24/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Slightly bullish
Technical indicators
17%
56%
28%
My opinion
Bearish under 7.2757 TRY
My targets
7.2142 TRY (-0.0222)
7.1775 TRY (-0.0589)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for CHF/TRY as long as the price remains well below 7.2757 TRY. The next bearish objective for sellers is set at 7.2142 TRY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7.1775 TRY. In case of crossing, the next objective would be the support located at 7.1408 TRY. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 7.2142 TRY. With this support, against the trend traders who want to buy CHF/TRY on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
1.6
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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/TRY rating 7.2364 TRY. The price registered a decrease of -0.21% on the session with the lowest point at 7.2243 TRY and the highest point at 7.2667 TRY. The deviation from the price is +0.17% for the low point and -0.42% for the high point.7.2243
7.2667
7.2364
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CHF/TRY in 1H shows an overall slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 technical indicators on 18 studied are currently positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Resistance of triangle is broken
Type : Bullish
Timeframe : 1 hour
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 harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.1775 | 7.2142 | 7.2301 | 7.2364 | 7.2429 | 7.2757 | 7.3800 |
| Change (%) | -0.81% | -0.31% | -0.09% | - | +0.09% | +0.54% | +1.98% |
| Change | -0.0589 | -0.0222 | -0.0063 | - | +0.0065 | +0.0393 | +0.1436 |
| Level | Minor | Minor | Major | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.1570 | 7.1856 | 7.2186 | 7.2472 | 7.2802 | 7.3088 | 7.3418 |
| Camarilla | 7.2348 | 7.2404 | 7.2461 | 7.2517 | 7.2574 | 7.2630 | 7.2686 |
| Woodie | 7.1593 | 7.1867 | 7.2209 | 7.2483 | 7.2825 | 7.3099 | 7.3441 |
| Fibonacci | 7.1856 | 7.2091 | 7.2236 | 7.2472 | 7.2707 | 7.2852 | 7.3088 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.0561 | 7.0988 | 7.1470 | 7.1897 | 7.2379 | 7.2806 | 7.3288 |
| Camarilla | 7.1702 | 7.1785 | 7.1869 | 7.1952 | 7.2035 | 7.2119 | 7.2202 |
| Woodie | 7.0589 | 7.1002 | 7.1498 | 7.1911 | 7.2407 | 7.2820 | 7.3316 |
| Fibonacci | 7.0988 | 7.1335 | 7.1550 | 7.1897 | 7.2244 | 7.2459 | 7.2806 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.3532 | 6.6428 | 6.8699 | 7.1595 | 7.3866 | 7.6762 | 7.9033 |
| Camarilla | 6.9550 | 7.0024 | 7.0497 | 7.0971 | 7.1445 | 7.1918 | 7.2392 |
| Woodie | 6.3221 | 6.6272 | 6.8388 | 7.1439 | 7.3555 | 7.6606 | 7.8722 |
| Fibonacci | 6.6428 | 6.8402 | 6.9621 | 7.1595 | 7.3569 | 7.4788 | 7.6762 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 44.09 | |
| MACD (12,26,9): | -0.0009 | |
| Directional Movement: | -8.3787 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 7.2474 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.2635 | |
| Elder Ray (13): | -0.0087 | |
| Super Trend (3,10): | 7.2306 | |
| Zig ZAG (10): | 7.2334 | |
| VORTEX (21): | 0.9463 | |
| Stochastique (14,3,5): | 5.92 | |
| TEMA (21): | 7.2408 | |
| Williams %R (14): | -99.15 | |
| Chande Momentum Oscillator (20): | -0.0224 | |
| Repulse (5,40,3): | -0.2969 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0044 | |
| Courbe Coppock: | 0.19 |
| MA7: | 7.2144 | |
| MA20: | 7.1415 | |
| MA50: | 7.1497 | |
| MA100: | 6.8560 | |
| MAexp7: | 7.2397 | |
| MAexp20: | 7.2475 | |
| MAexp50: | 7.2412 | |
| MAexp100: | 7.2301 | |
| Price / MA7: | +0.30% | |
| Price / MA20: | +1.33% | |
| Price / MA50: | +1.21% | |
| Price / MA100: | +5.55% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | +0.10% |
Quotes :
2020-06-24 15:01:31
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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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