EUR/HKD - Daily - Technical analysis published on 05/12/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Strongly bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 8.5429 HKD
My targets
8.3508 HKD (-0.0646)
8.2701 HKD (-0.1453)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EUR/HKD as long as the price remains well below 8.5429 HKD. The next bearish objective for sellers is set at 8.3508 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8.2701 HKD. If there is any crossing, the next objective would be the support located at 8.0689 HKD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
FORCE
0
10
4.8
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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 EUR/HKD rating is 8.4154 HKD. The price registered an increase of +0.45% on the session and was between 8.3581 HKD and 8.4170 HKD. This implies that the price is at +0.69% from its lowest and at -0.02% from its highest.8.3581
8.4170
8.4154
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 LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of EUR/HKD indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals 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 does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
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:
Near support of channel
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.0689 | 8.2701 | 8.3508 | 8.4154 | 8.5429 | 8.6158 | 8.7453 |
| Change (%) | -4.12% | -1.73% | -0.77% | - | +1.52% | +2.38% | +3.92% |
| Change | -0.3465 | -0.1453 | -0.0646 | - | +0.1275 | +0.2004 | +0.3299 |
| Level | Major | Major | Major | - | Major | 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 | 8.3247 | 8.3483 | 8.3629 | 8.3865 | 8.4011 | 8.4247 | 8.4393 |
| Camarilla | 8.3669 | 8.3704 | 8.3739 | 8.3774 | 8.3809 | 8.3844 | 8.3879 |
| Woodie | 8.3201 | 8.3461 | 8.3583 | 8.3843 | 8.3965 | 8.4225 | 8.4347 |
| Fibonacci | 8.3483 | 8.3629 | 8.3719 | 8.3865 | 8.4011 | 8.4101 | 8.4247 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.1605 | 8.2530 | 8.3277 | 8.4202 | 8.4949 | 8.5874 | 8.6621 |
| Camarilla | 8.3564 | 8.3718 | 8.3871 | 8.4024 | 8.4177 | 8.4331 | 8.4484 |
| Woodie | 8.1516 | 8.2486 | 8.3188 | 8.4158 | 8.4860 | 8.5830 | 8.6532 |
| Fibonacci | 8.2530 | 8.3169 | 8.3563 | 8.4202 | 8.4841 | 8.5235 | 8.5874 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.1051 | 8.2099 | 8.3471 | 8.4519 | 8.5891 | 8.6939 | 8.8311 |
| Camarilla | 8.4178 | 8.4399 | 8.4621 | 8.4843 | 8.5065 | 8.5287 | 8.5509 |
| Woodie | 8.1213 | 8.2180 | 8.3633 | 8.4600 | 8.6053 | 8.7020 | 8.8473 |
| Fibonacci | 8.2099 | 8.3023 | 8.3595 | 8.4519 | 8.5443 | 8.6015 | 8.6939 |
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): | 48.15 | |
| MACD (12,26,9): | -0.0175 | |
| Directional Movement: | -6.9091 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 8.3938 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.5298 | |
| Elder Ray (13): | -0.0310 | |
| Super Trend (3,10): | 8.5643 | |
| Zig ZAG (10): | 8.4037 | |
| VORTEX (21): | 0.9322 | |
| Stochastique (14,3,5): | 35.10 | |
| TEMA (21): | 8.3978 | |
| Williams %R (14): | -61.08 | |
| Chande Momentum Oscillator (20): | 0.0159 | |
| Repulse (5,40,3): | 0.2401 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0327 | |
| Courbe Coppock: | 0.08 |
| MA7: | 8.4009 | |
| MA20: | 8.4134 | |
| MA50: | 8.4866 | |
| MA100: | 8.5329 | |
| MAexp7: | 8.4028 | |
| MAexp20: | 8.4212 | |
| MAexp50: | 8.4624 | |
| MAexp100: | 8.5154 | |
| Price / MA7: | +0.17% | |
| Price / MA20: | +0.02% | |
| Price / MA50: | -0.84% | |
| Price / MA100: | -1.38% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.56% | |
| Price / MAexp100: | -1.17% |
This member declared not having a position on this financial instrument or a related financial instrument.
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