CHF/TRY - 1H - Technical analysis published on 03/23/2020 (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 bullish
De fond:
Slightly bullish
Technical indicators
67%
0%
33%
My opinion
Bullish above 6.6703 TRY
My targets
6.7054 TRY (+0.0173)
6.7545 TRY (+0.0664)
My analysis
The strong short-term increase for CHF/TRY reinforces the current slightly bullish trend. As long as the price remains above 6.6703 TRY, you could take advantage of this bullish acceleration. The first bullish objective is located at 6.7054 TRY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 6.7545 TRY as an objective. Crossing it would then enable buyers to target 6.8113 TRY. A return to 6.6703 TRY would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
5
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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
The CHF/TRY rating is 6.6881 TRY. On the day, this instrument lost +0.56% with the lowest point at 6.6123 TRY and the highest point at 6.7066 TRY. The deviation from the price is +1.15% for the low point and -0.28% for the high point.6.6123
6.7066
6.6881
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CHF/TRY chart shows a slightly bullish trend. Only 60.71% of the signals given by moving averages are bullish. This slightly bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Resistance of channel 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 bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.5834 | 6.6452 | 6.6703 | 6.6881 | 6.7054 | 6.7545 | 6.8113 |
| Change (%) | -1.57% | -0.64% | -0.27% | - | +0.26% | +0.99% | +1.84% |
| Change | -0.1047 | -0.0429 | -0.0178 | - | +0.0173 | +0.0664 | +0.1232 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.5322 | 6.5643 | 6.6077 | 6.6398 | 6.6832 | 6.7153 | 6.7587 |
| Camarilla | 6.6304 | 6.6374 | 6.6443 | 6.6512 | 6.6581 | 6.6650 | 6.6720 |
| Woodie | 6.5380 | 6.5671 | 6.6135 | 6.6426 | 6.6890 | 6.7181 | 6.7645 |
| Fibonacci | 6.5643 | 6.5931 | 6.6109 | 6.6398 | 6.6686 | 6.6864 | 6.7153 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.3462 | 6.4713 | 6.5612 | 6.6863 | 6.7762 | 6.9013 | 6.9912 |
| Camarilla | 6.5921 | 6.6118 | 6.6315 | 6.6512 | 6.6709 | 6.6906 | 6.7103 |
| Woodie | 6.3287 | 6.4625 | 6.5437 | 6.6775 | 6.7587 | 6.8925 | 6.9737 |
| Fibonacci | 6.4713 | 6.5534 | 6.6041 | 6.6863 | 6.7684 | 6.8191 | 6.9013 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.8328 | 5.9742 | 6.2169 | 6.3583 | 6.6010 | 6.7424 | 6.9851 |
| Camarilla | 6.3540 | 6.3892 | 6.4244 | 6.4596 | 6.4948 | 6.5300 | 6.5652 |
| Woodie | 5.8835 | 5.9995 | 6.2676 | 6.3836 | 6.6517 | 6.7677 | 7.0358 |
| Fibonacci | 5.9742 | 6.1209 | 6.2116 | 6.3583 | 6.5050 | 6.5957 | 6.7424 |
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): | 57.65 | |
| MACD (12,26,9): | 0.0106 | |
| Directional Movement: | 1.6997 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 6.6778 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.6437 | |
| Elder Ray (13): | 0.0097 | |
| Super Trend (3,10): | 6.7007 | |
| Zig ZAG (10): | 6.6907 | |
| VORTEX (21): | 1.1008 | |
| Stochastique (14,3,5): | 78.26 | |
| TEMA (21): | 6.6888 | |
| Williams %R (14): | -20.57 | |
| Chande Momentum Oscillator (20): | 0.0370 | |
| Repulse (5,40,3): | 0.1181 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0154 | |
| Courbe Coppock: | 1.22 |
| MA7: | 6.6796 | |
| MA20: | 6.5452 | |
| MA50: | 6.3079 | |
| MA100: | 6.1145 | |
| MAexp7: | 6.6791 | |
| MAexp20: | 6.6643 | |
| MAexp50: | 6.6613 | |
| MAexp100: | 6.6676 | |
| Price / MA7: | +0.13% | |
| Price / MA20: | +2.18% | |
| Price / MA50: | +6.03% | |
| Price / MA100: | +9.38% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.36% | |
| Price / MAexp50: | +0.41% | |
| Price / MAexp100: | +0.31% |
This member declared not having a position on this financial instrument or a related financial instrument.
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