EUR/HKD - 1H - Technical analysis published on 01/19/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
33%
33%
33%
My opinion
Bearish under 8.5276 HKD
My targets
8.4902 HKD (-0.0168)
8.4549 HKD (-0.0521)
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 8.5276 HKD. The next bearish objective for sellers is set at 8.4902 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8.4549 HKD. If there is any crossing, the next objective would be the support located at 8.3750 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, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5
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
EUR/HKD rating 8.5070 HKD. On the day, this instrument lost -0.03% and was traded between 8.4986 HKD and 8.5183 HKD over the period. The price is currently at +0.10% from its lowest and -0.13% from its highest.8.4986
8.5183
8.5070
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 (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/HKD indicates that the overall trend is strongly bearish. The signals given by moving averages are 85.71% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.3750 | 8.4902 | 8.5011 | 8.5070 | 8.5276 | 8.5547 | 8.5768 |
| Change (%) | -1.55% | -0.20% | -0.07% | - | +0.24% | +0.56% | +0.82% |
| Change | -0.1320 | -0.0168 | -0.0059 | - | +0.0206 | +0.0477 | +0.0698 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.4414 | 8.4622 | 8.4860 | 8.5068 | 8.5306 | 8.5514 | 8.5752 |
| Camarilla | 8.4975 | 8.5016 | 8.5057 | 8.5098 | 8.5139 | 8.5180 | 8.5221 |
| Woodie | 8.4429 | 8.4630 | 8.4875 | 8.5076 | 8.5321 | 8.5522 | 8.5767 |
| Fibonacci | 8.4622 | 8.4792 | 8.4898 | 8.5068 | 8.5238 | 8.5344 | 8.5514 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.4549 | 8.4912 | 8.5279 | 8.5642 | 8.6009 | 8.6372 | 8.6739 |
| Camarilla | 8.5444 | 8.5511 | 8.5578 | 8.5645 | 8.5712 | 8.5779 | 8.5846 |
| Woodie | 8.4550 | 8.4913 | 8.5280 | 8.5643 | 8.6010 | 8.6373 | 8.6740 |
| Fibonacci | 8.4912 | 8.5191 | 8.5364 | 8.5642 | 8.5921 | 8.6094 | 8.6372 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.1019 | 8.2395 | 8.4301 | 8.5677 | 8.7583 | 8.8959 | 9.0865 |
| Camarilla | 8.5304 | 8.5604 | 8.5905 | 8.6206 | 8.6507 | 8.6808 | 8.7109 |
| Woodie | 8.1283 | 8.2528 | 8.4565 | 8.5810 | 8.7847 | 8.9092 | 9.1129 |
| Fibonacci | 8.2395 | 8.3649 | 8.4424 | 8.5677 | 8.6931 | 8.7706 | 8.8959 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 48.65 | |
| MACD (12,26,9): | 0.0006 | |
| Directional Movement: | -0.5986 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 8.5093 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.4994 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 8.5276 | |
| Zig ZAG (10): | 8.5070 | |
| VORTEX (21): | 1.1079 | |
| Stochastique (14,3,5): | 59.05 | |
| TEMA (21): | 8.5107 | |
| Williams %R (14): | -52.28 | |
| Chande Momentum Oscillator (20): | -0.0060 | |
| Repulse (5,40,3): | 0.0013 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0012 | |
| Courbe Coppock: | 0.10 |
| MA7: | 8.5369 | |
| MA20: | 8.5685 | |
| MA50: | 8.5156 | |
| MA100: | 8.4168 | |
| MAexp7: | 8.5090 | |
| MAexp20: | 8.5087 | |
| MAexp50: | 8.5104 | |
| MAexp100: | 8.5194 | |
| Price / MA7: | -0.35% | |
| Price / MA20: | -0.72% | |
| Price / MA50: | -0.10% | |
| Price / MA100: | +1.07% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | -0.15% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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…
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