EUR/HKD - 1H - Technical analysis published on 05/28/2023 (GMT)
- 117
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
50%
39%
My opinion
Bearish under 8.4347 HKD
My targets
8.3871 HKD (-0.0146)
8.3278 HKD (-0.0739)
My analysis
EUR/HKD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 8.4347 HKD. The next support located at 8.3871 HKD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 8.3278 HKD. Below this support, sellers could then target 8.2548 HKD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
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
7
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/HKD price is 8.4017 HKD. On the day, this instrument gained +0.00% with the lowest point at 8.3950 HKD and the highest point at 8.4041 HKD. The deviation from the price is +0.08% for the low point and -0.03% for the high point.8.3950
8.4041
8.4017
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
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
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Abnormal volumes on EUR/HKD were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of EUR/HKD in 1H shows a overall strongly bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : 1 hour
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Other results related to technical indicators were also found by the Central Indicators scanner:
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
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 horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 8.1389 | 8.2548 | 8.3871 | 8.4017 | 8.4033 | 8.4347 | 8.4766 |
| Change (%) | -3.13% | -1.75% | -0.17% | - | +0.02% | +0.39% | +0.89% |
| Change | -0.2628 | -0.1469 | -0.0146 | - | +0.0016 | +0.0330 | +0.0749 |
| Level | Minor | Major | Intermediate | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.3360 | 8.3598 | 8.3809 | 8.4047 | 8.4258 | 8.4496 | 8.4707 |
| Camarilla | 8.3896 | 8.3937 | 8.3978 | 8.4019 | 8.4060 | 8.4101 | 8.4143 |
| Woodie | 8.3346 | 8.3591 | 8.3795 | 8.4040 | 8.4244 | 8.4489 | 8.4693 |
| Fibonacci | 8.3598 | 8.3770 | 8.3876 | 8.4047 | 8.4219 | 8.4325 | 8.4496 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.2720 | 8.3278 | 8.3649 | 8.4207 | 8.4578 | 8.5136 | 8.5507 |
| Camarilla | 8.3764 | 8.3849 | 8.3934 | 8.4019 | 8.4104 | 8.4189 | 8.4275 |
| Woodie | 8.2626 | 8.3231 | 8.3555 | 8.4160 | 8.4484 | 8.5089 | 8.5413 |
| Fibonacci | 8.3278 | 8.3633 | 8.3853 | 8.4207 | 8.4562 | 8.4782 | 8.5136 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.2677 | 8.3680 | 8.5080 | 8.6083 | 8.7483 | 8.8486 | 8.9886 |
| Camarilla | 8.5818 | 8.6039 | 8.6259 | 8.6479 | 8.6699 | 8.6920 | 8.7140 |
| Woodie | 8.2875 | 8.3779 | 8.5278 | 8.6182 | 8.7681 | 8.8585 | 9.0084 |
| Fibonacci | 8.3680 | 8.4598 | 8.5165 | 8.6083 | 8.7001 | 8.7568 | 8.8486 |
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): | 47.13 | |
| MACD (12,26,9): | -0.0018 | |
| Directional Movement: | 0.4540 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 8.4025 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.4150 | |
| Elder Ray (13): | -0.0008 | |
| Super Trend (3,10): | 8.4255 | |
| Zig ZAG (10): | 8.4019 | |
| VORTEX (21): | 0.9996 | |
| Stochastique (14,3,5): | 45.58 | |
| TEMA (21): | 8.4032 | |
| Williams %R (14): | -59.47 | |
| Chande Momentum Oscillator (20): | -0.0049 | |
| Repulse (5,40,3): | -0.0205 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0019 | |
| Courbe Coppock: | 0.17 |
| MA7: | 8.4298 | |
| MA20: | 8.5329 | |
| MA50: | 8.5549 | |
| MA100: | 8.4828 | |
| MAexp7: | 8.4029 | |
| MAexp20: | 8.4049 | |
| MAexp50: | 8.4106 | |
| MAexp100: | 8.4233 | |
| Price / MA7: | -0.33% | |
| Price / MA20: | -1.54% | |
| Price / MA50: | -1.79% | |
| Price / MA100: | -0.96% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.04% | |
| Price / MAexp50: | -0.11% | |
| Price / MAexp100: | -0.26% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis EUR/HKD - 1H