NZD/CAD - 1H - Technical analysis published on 02/17/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 0.8535 CAD
My targets
0.8506 CAD (-0.0015)
0.8488 CAD (-0.0033)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on NZD/CAD. As long as you are under the resistance located at 0.8535 CAD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 0.8506 CAD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 0.8488 CAD as an objective. Crossing it would then enable sellers to target 0.8417 CAD. If the resistance 0.8535 CAD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
FORCE
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10
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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 NZD/CAD price is 0.8521 CAD. On the day, this instrument gained -0.13% and was traded between 0.8494 CAD and 0.8545 CAD over the period. The price is currently at +0.32% from its lowest and -0.28% from its highest.0.8494
0.8545
0.8521
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 (5 years)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this NZD/CAD chart shows a bearish trend. 64.29% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
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 | 0.8417 | 0.8488 | 0.8506 | 0.8521 | 0.8535 | 0.8569 | 0.8607 |
| Change (%) | -1.22% | -0.39% | -0.18% | - | +0.16% | +0.56% | +1.01% |
| Change | -0.0104 | -0.0033 | -0.0015 | - | +0.0014 | +0.0048 | +0.0086 |
| Level | Minor | Minor | Major | - | Minor | Minor | 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 | 0.8470 | 0.8488 | 0.8510 | 0.8528 | 0.8550 | 0.8568 | 0.8590 |
| Camarilla | 0.8521 | 0.8525 | 0.8528 | 0.8532 | 0.8536 | 0.8539 | 0.8543 |
| Woodie | 0.8472 | 0.8489 | 0.8512 | 0.8529 | 0.8552 | 0.8569 | 0.8592 |
| Fibonacci | 0.8488 | 0.8503 | 0.8513 | 0.8528 | 0.8543 | 0.8553 | 0.8568 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.8359 | 0.8423 | 0.8478 | 0.8542 | 0.8597 | 0.8661 | 0.8716 |
| Camarilla | 0.8499 | 0.8510 | 0.8521 | 0.8532 | 0.8543 | 0.8554 | 0.8565 |
| Woodie | 0.8354 | 0.8421 | 0.8473 | 0.8540 | 0.8592 | 0.8659 | 0.8711 |
| Fibonacci | 0.8423 | 0.8469 | 0.8497 | 0.8542 | 0.8588 | 0.8616 | 0.8661 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.8279 | 0.8409 | 0.8483 | 0.8613 | 0.8687 | 0.8817 | 0.8891 |
| Camarilla | 0.8500 | 0.8519 | 0.8537 | 0.8556 | 0.8575 | 0.8593 | 0.8612 |
| Woodie | 0.8250 | 0.8395 | 0.8454 | 0.8599 | 0.8658 | 0.8803 | 0.8862 |
| Fibonacci | 0.8409 | 0.8487 | 0.8535 | 0.8613 | 0.8691 | 0.8739 | 0.8817 |
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): | 52.15 | |
| MACD (12,26,9): | -0.0003 | |
| Directional Movement: | 3.7466 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 0.8512 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.8495 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 0.8531 | |
| Zig ZAG (10): | 0.8520 | |
| VORTEX (21): | 0.9831 | |
| Stochastique (14,3,5): | 78.01 | |
| TEMA (21): | 0.8513 | |
| Williams %R (14): | -15.63 | |
| Chande Momentum Oscillator (20): | 0.0008 | |
| Repulse (5,40,3): | 0.1855 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0079 | |
| Courbe Coppock: | 0.17 |
| MA7: | 0.8526 | |
| MA20: | 0.8586 | |
| MA50: | 0.8643 | |
| MA100: | 0.8542 | |
| MAexp7: | 0.8515 | |
| MAexp20: | 0.8517 | |
| MAexp50: | 0.8524 | |
| MAexp100: | 0.8532 | |
| Price / MA7: | -0.06% | |
| Price / MA20: | -0.76% | |
| Price / MA50: | -1.41% | |
| Price / MA100: | -0.25% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | -0.13% |
News
Don"t forget to follow the news on NZD/CAD. At the time of publication of this analysis, the latest news was as follows:
-
New Zealand Dollar Soars on RBNZ: NZD/USD, NZD/JPY, NZD/CAD Analysis
-
Quick Takes Video: Volatility vs Inevitability for USD/CAD, NZD/JPY, NZD/CAD
-
NZD/CAD To Potentially Reach Parity
This member declared not having a position on this financial instrument or a related financial instrument.
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