EUR/HUF - Daily - Technical analysis published on 05/12/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Slightly bullish
Technical indicators
22%
56%
22%
My opinion
Bearish under 357.69 HUF
My targets
344.74 HUF (-5.87)
340.00 HUF (-10.61)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for EUR/HUF as long as the price remains well below 357.69 HUF. The next bearish objective for sellers is set at 344.74 HUF. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 340.00 HUF. In case of crossing, the next objective would be the support located at 334.95 HUF. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 344.74 HUF. With this support, against the trend traders who want to buy EUR/HUF on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
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/HUF rating 350.61 HUF. On the day, this instrument gained +0.10% and was between 349.84 HUF and 351.49 HUF. This implies that the price is at +0.22% from its lowest and at -0.25% from its highest.349.84
351.49
350.61
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this Daily chart of EUR/HUF indicates that the overall trend is slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 329.92 | 334.95 | 340.00 | 350.61 | 351.31 | 357.69 | 365.61 |
| Change (%) | -5.90% | -4.47% | -3.03% | - | +0.20% | +2.02% | +4.28% |
| Change | -20.69 | -15.66 | -10.61 | - | +0.70 | +7.08 | +15.00 |
| Level | Major | Major | Minor | - | Intermediate | 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 | 347.53 | 348.32 | 349.29 | 350.08 | 351.05 | 351.84 | 352.81 |
| Camarilla | 349.78 | 349.94 | 350.10 | 350.26 | 350.42 | 350.58 | 350.74 |
| Woodie | 347.62 | 348.37 | 349.38 | 350.13 | 351.14 | 351.89 | 352.90 |
| Fibonacci | 348.32 | 348.99 | 349.41 | 350.08 | 350.75 | 351.17 | 351.84 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 339.82 | 343.92 | 346.68 | 350.78 | 353.54 | 357.64 | 360.40 |
| Camarilla | 347.54 | 348.17 | 348.80 | 349.43 | 350.06 | 350.69 | 351.32 |
| Woodie | 339.14 | 343.59 | 346.00 | 350.45 | 352.86 | 357.31 | 359.72 |
| Fibonacci | 343.92 | 346.54 | 348.16 | 350.78 | 353.40 | 355.02 | 357.64 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 324.25 | 336.68 | 344.74 | 357.17 | 365.23 | 377.66 | 385.72 |
| Camarilla | 347.17 | 349.04 | 350.92 | 352.80 | 354.68 | 356.56 | 358.44 |
| Woodie | 322.07 | 335.59 | 342.56 | 356.08 | 363.05 | 376.57 | 383.54 |
| Fibonacci | 336.68 | 344.51 | 349.34 | 357.17 | 365.00 | 369.83 | 377.66 |
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): | 44.89 | |
| MACD (12,26,9): | -0.7000 | |
| Directional Movement: | -4.97 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 352.18 | |
| Parabolic SAR (0,02-0,02-0,2): | 357.08 | |
| Elder Ray (13): | -1.38 | |
| Super Trend (3,10): | 360.08 | |
| Zig ZAG (10): | 350.79 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 19.66 | |
| TEMA (21): | 349.90 | |
| Williams %R (14): | -75.21 | |
| Chande Momentum Oscillator (20): | -4.80 | |
| Repulse (5,40,3): | 0.0900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 1.82 |
| MA7: | 350.89 | |
| MA20: | 353.14 | |
| MA50: | 351.71 | |
| MA100: | 343.53 | |
| MAexp7: | 351.11 | |
| MAexp20: | 352.62 | |
| MAexp50: | 350.65 | |
| MAexp100: | 345.77 | |
| Price / MA7: | -0.08% | |
| Price / MA20: | -0.72% | |
| Price / MA50: | -0.31% | |
| Price / MA100: | +2.06% | |
| Price / MAexp7: | -0.14% | |
| Price / MAexp20: | -0.57% | |
| Price / MAexp50: | -0.01% | |
| Price / MAexp100: | +1.40% |
This member declared not having a position on this financial instrument or a related financial instrument.
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