EUR/HKD - 1H - Technical analysis published on 03/18/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Strongly bearish
Technical indicators
28%
39%
33%
My opinion
Bearish under 8.5429 HKD
My targets
8.5081 HKD (-0.0142)
8.5033 HKD (-0.0190)
My analysis
The bearish basic trend is very strong on EUR/HKD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 8.5429 HKD. Crossing the first support at 8.5081 HKD would be a sign of a further potential price plummet. Sellers would then use the next support located at 8.5033 HKD as an objective. Crossing it would then enable sellers to target 8.3793 HKD. Caution, a return to above the resistance located at 8.5429 HKD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
FORCE
0
10
5.7
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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 price is 8.5223 HKD. The price is lower by -0.35% since the last closing and was traded between 8.5073 HKD and 8.5759 HKD over the period. The price is currently at +0.18% from its lowest and -0.63% from its highest.8.5073
8.5759
8.5223
The Central Gaps scanner detects a bearish opening. A small advantage for sellers 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:
Technical
Technical analysis of this 1H chart of EUR/HKD indicates that the overall trend is strongly bearish. 89.29% 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
On the 18 technical indicators analysed, 5 are bullish, 6 are neutral and 7 are bearish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
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 a result that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.0689 | 8.3793 | 8.5081 | 8.5223 | 8.5429 | 8.6152 | 8.7392 |
| Change (%) | -5.32% | -1.68% | -0.17% | - | +0.24% | +1.09% | +2.55% |
| Change | -0.4534 | -0.1430 | -0.0142 | - | +0.0206 | +0.0929 | +0.2169 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.2920 | 8.4001 | 8.4761 | 8.5842 | 8.6602 | 8.7683 | 8.8443 |
| Camarilla | 8.5016 | 8.5185 | 8.5353 | 8.5522 | 8.5691 | 8.5860 | 8.6028 |
| Woodie | 8.2761 | 8.3921 | 8.4602 | 8.5762 | 8.6443 | 8.7603 | 8.8284 |
| Fibonacci | 8.4001 | 8.4704 | 8.5138 | 8.5842 | 8.6545 | 8.6979 | 8.7683 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.1692 | 8.3801 | 8.5033 | 8.7142 | 8.8374 | 9.0483 | 9.1715 |
| Camarilla | 8.5345 | 8.5652 | 8.5958 | 8.6264 | 8.6570 | 8.6877 | 8.7183 |
| Woodie | 8.1253 | 8.3582 | 8.4594 | 8.6923 | 8.7935 | 9.0264 | 9.1276 |
| Fibonacci | 8.3801 | 8.5078 | 8.5866 | 8.7142 | 8.8419 | 8.9207 | 9.0483 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.2069 | 8.2927 | 8.4439 | 8.5297 | 8.6809 | 8.7667 | 8.9179 |
| Camarilla | 8.5298 | 8.5516 | 8.5733 | 8.5950 | 8.6167 | 8.6385 | 8.6602 |
| Woodie | 8.2395 | 8.3091 | 8.4765 | 8.5461 | 8.7135 | 8.7831 | 8.9505 |
| Fibonacci | 8.2927 | 8.3833 | 8.4392 | 8.5297 | 8.6203 | 8.6762 | 8.7667 |
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): | 38.45 | |
| MACD (12,26,9): | -0.0167 | |
| Directional Movement: | -15.2494 | |
| AROON (14): | -21.4286 | |
| DEMA (21): | 8.5217 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.5646 | |
| Elder Ray (13): | -0.0151 | |
| Super Trend (3,10): | 8.5876 | |
| Zig ZAG (10): | 8.5181 | |
| VORTEX (21): | 1.0183 | |
| Stochastique (14,3,5): | 33.48 | |
| TEMA (21): | 8.5263 | |
| Williams %R (14): | -76.53 | |
| Chande Momentum Oscillator (20): | -0.0101 | |
| Repulse (5,40,3): | -0.2036 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0325 | |
| Courbe Coppock: | 0.10 |
| MA7: | 8.6585 | |
| MA20: | 8.6196 | |
| MA50: | 8.5796 | |
| MA100: | 8.6236 | |
| MAexp7: | 8.5331 | |
| MAexp20: | 8.5464 | |
| MAexp50: | 8.5840 | |
| MAexp100: | 8.6296 | |
| Price / MA7: | -1.57% | |
| Price / MA20: | -1.13% | |
| Price / MA50: | -0.67% | |
| Price / MA100: | -1.17% | |
| Price / MAexp7: | -0.13% | |
| Price / MAexp20: | -0.28% | |
| Price / MAexp50: | -0.72% | |
| Price / MAexp100: | -1.24% |
This member declared not having a position on this financial instrument or a related financial instrument.
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