GBP/HKD - 1H - Technical analysis published on 11/05/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 10.094 HKD
My targets
10.080 HKD (-0.10%)
10.042 HKD (-0.48%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/HKD as long as the price remains well below 10.094 HKD. The sellers” bearish objective is set at 10.080 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 10.042 HKD. In case of crossing, the next objective would be the support located at 10.023 HKD.
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
5.4
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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
The GBP/HKD price is 10.090 HKD. The price is lower by -0.11% since the last closing and was traded between 10.088 HKD and 10.112 HKD over the period. The price is currently at +0.02% from its lowest and -0.22% from its highest.10.088
10.112
10.090
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 GBP/HKD indicates that the overall trend is bearish. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.023 | 10.042 | 10.080 | 10.090 | 10.094 | 10.118 | 10.129 |
| Change (%) | -0.66% | -0.48% | -0.10% | - | +0.04% | +0.28% | +0.39% |
| Change | -0.067 | -0.048 | -0.010 | - | +0.004 | +0.028 | +0.039 |
| Level | Minor | Major | Intermediate | - | Minor | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.112 | 10.121 | 10.127 | 10.136 | 10.142 | 10.151 | 10.157 |
| Camarilla | 10.130 | 10.131 | 10.133 | 10.134 | 10.135 | 10.137 | 10.138 |
| Woodie | 10.112 | 10.120 | 10.127 | 10.135 | 10.142 | 10.150 | 10.157 |
| Fibonacci | 10.121 | 10.126 | 10.130 | 10.136 | 10.141 | 10.145 | 10.151 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.934 | 9.987 | 10.062 | 10.115 | 10.190 | 10.243 | 10.318 |
| Camarilla | 10.102 | 10.114 | 10.125 | 10.137 | 10.149 | 10.161 | 10.172 |
| Woodie | 9.945 | 9.993 | 10.073 | 10.121 | 10.201 | 10.249 | 10.329 |
| Fibonacci | 9.987 | 10.036 | 10.066 | 10.115 | 10.164 | 10.194 | 10.243 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.099 | 9.333 | 9.737 | 9.971 | 10.375 | 10.609 | 11.013 |
| Camarilla | 9.965 | 10.023 | 10.082 | 10.140 | 10.199 | 10.257 | 10.316 |
| Woodie | 9.183 | 9.376 | 9.821 | 10.014 | 10.459 | 10.652 | 11.097 |
| Fibonacci | 9.333 | 9.577 | 9.728 | 9.971 | 10.215 | 10.366 | 10.609 |
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): | 25.47 | |
| MACD (12,26,9): | -0.0070 | |
| Directional Movement: | -26.861 | |
| AROON (14): | -57.143 | |
| DEMA (21): | 10.125 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.143 | |
| Elder Ray (13): | -0.026 | |
| Super Trend (3,10): | 10.135 | |
| Zig ZAG (10): | 10.093 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 14.66 | |
| TEMA (21): | 10.118 | |
| Williams %R (14): | -94.23 | |
| Chande Momentum Oscillator (20): | -0.041 | |
| Repulse (5,40,3): | -0.2050 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0050 | |
| Courbe Coppock: | 0.27 |
| MA7: | 10.112 | |
| MA20: | 10.039 | |
| MA50: | 9.812 | |
| MA100: | 9.750 | |
| MAexp7: | 10.121 | |
| MAexp20: | 10.132 | |
| MAexp50: | 10.134 | |
| MAexp100: | 10.125 | |
| Price / MA7: | -0.22% | |
| Price / MA20: | +0.51% | |
| Price / MA50: | +2.83% | |
| Price / MA100: | +3.49% | |
| Price / MAexp7: | -0.31% | |
| Price / MAexp20: | -0.41% | |
| Price / MAexp50: | -0.43% | |
| Price / MAexp100: | -0.35% |
This member declared not having a position on this financial instrument or a related financial instrument.
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