EUR/HKD - 1H - Technical analysis published on 02/03/2020 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
17%
50%
33%
My opinion
Bullish above 8.5733 HKD
My targets
8.6162 HKD (+0.0199)
8.6337 HKD (+0.0374)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 8.5733 HKD remains possible. It is advisable to trade EUR/HKD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 8.5733 HKD. The next bullish objective for buyers is set at 8.6162 HKD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.6337 HKD. If there is any crossing, the next objective would be the resistance located at 8.6682 HKD. PS: if there is a bearish break in the support located at 8.5733 HKD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
FORCE
0
10
1.4
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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
EUR/HKD rating 8.5963 HKD. The price has increased by -0.21% since the last closing and was between 8.5893 HKD and 8.6156 HKD. This implies that the price is at +0.08% from its lowest and at -0.22% from its highest.8.5893
8.6156
8.5963
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
Here is a more detailed summary of the historical variations registered by EUR/HKD:
Technical
Technical analysis of EUR/HKD in 1H shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Horizontal support is broken
Type : Bearish
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 | 8.5429 | 8.5578 | 8.5733 | 8.5963 | 8.6046 | 8.6162 | 8.6337 |
Change (%) | -0.62% | -0.45% | -0.27% | - | +0.10% | +0.23% | +0.44% |
Change | -0.0534 | -0.0385 | -0.0230 | - | +0.0083 | +0.0199 | +0.0374 |
Level | Major | Minor | Major | - | Minor | Minor | Major |
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 | 8.5176 | 8.5377 | 8.5760 | 8.5961 | 8.6344 | 8.6545 | 8.6928 |
Camarilla | 8.5982 | 8.6036 | 8.6090 | 8.6143 | 8.6197 | 8.6250 | 8.6304 |
Woodie | 8.5267 | 8.5423 | 8.5851 | 8.6007 | 8.6435 | 8.6591 | 8.7019 |
Fibonacci | 8.5377 | 8.5600 | 8.5738 | 8.5961 | 8.6184 | 8.6322 | 8.6545 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 8.4934 | 8.5184 | 8.5663 | 8.5913 | 8.6392 | 8.6642 | 8.7121 |
Camarilla | 8.5943 | 8.6009 | 8.6076 | 8.6143 | 8.6210 | 8.6277 | 8.6344 |
Woodie | 8.5050 | 8.5241 | 8.5779 | 8.5970 | 8.6508 | 8.6699 | 8.7237 |
Fibonacci | 8.5184 | 8.5462 | 8.5634 | 8.5913 | 8.6191 | 8.6363 | 8.6642 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 8.3185 | 8.4309 | 8.5226 | 8.6350 | 8.7267 | 8.8391 | 8.9308 |
Camarilla | 8.5582 | 8.5769 | 8.5956 | 8.6143 | 8.6330 | 8.6517 | 8.6704 |
Woodie | 8.3082 | 8.4257 | 8.5123 | 8.6298 | 8.7164 | 8.8339 | 8.9205 |
Fibonacci | 8.4309 | 8.5089 | 8.5570 | 8.6350 | 8.7130 | 8.7611 | 8.8391 |
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): | 48.70 | |
MACD (12,26,9): | 0.0042 | |
Directional Movement: | -5.1357 | |
AROON (14): | -92.8571 | |
DEMA (21): | 8.6083 | |
Parabolic SAR (0,02-0,02-0,2): | 8.6094 | |
Elder Ray (13): | -0.0040 | |
Super Trend (3,10): | 8.5896 | |
Zig ZAG (10): | 8.5968 | |
VORTEX (21): | 1.0976 | |
Stochastique (14,3,5): | 23.06 | |
TEMA (21): | 8.6050 | |
Williams %R (14): | -73.38 | |
Chande Momentum Oscillator (20): | -0.0116 | |
Repulse (5,40,3): | -0.0536 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.0132 | |
Courbe Coppock: | 0.18 |
MA7: | 8.5784 | |
MA20: | 8.6163 | |
MA50: | 8.6500 | |
MA100: | 8.6521 | |
MAexp7: | 8.6014 | |
MAexp20: | 8.6007 | |
MAexp50: | 8.5892 | |
MAexp100: | 8.5817 | |
Price / MA7: | +0.21% | |
Price / MA20: | -0.23% | |
Price / MA50: | -0.62% | |
Price / MA100: | -0.64% | |
Price / MAexp7: | -0.06% | |
Price / MAexp20: | -0.05% | |
Price / MAexp50: | +0.08% | |
Price / MAexp100: | +0.17% |
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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