USD/HUF - 1H - Technical analysis published on 03/20/2024 (GMT)
- 87
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 363.96 HUF
My targets
366.20 HUF (+1.37)
369.17 HUF (+4.34)
My analysis
USD/HUF is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 363.96 HUF. The next resistance located at 366.20 HUF is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 369.17 HUF. After this resistance, buyers could then target 373.73 HUF. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.8
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by OliVymous. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/HUF rating is 364.83 HUF. The price registered an increase of +0.37% on the session and was between 362.85 HUF and 365.35 HUF. This implies that the price is at +0.55% from its lowest and at -0.14% from its highest.362.85
365.35
364.83
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:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/HUF chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 360.63 | 362.42 | 363.96 | 364.83 | 365.19 | 366.20 | 369.17 |
| Change (%) | -1.15% | -0.66% | -0.24% | - | +0.10% | +0.38% | +1.19% |
| Change | -4.20 | -2.41 | -0.87 | - | +0.36 | +1.37 | +4.34 |
| Level | Major | Major | Intermediate | - | Minor | Minor | Minor |
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 | 360.11 | 361.47 | 362.47 | 363.83 | 364.83 | 366.19 | 367.19 |
| Camarilla | 362.82 | 363.04 | 363.25 | 363.47 | 363.69 | 363.90 | 364.12 |
| Woodie | 359.93 | 361.38 | 362.29 | 363.74 | 364.65 | 366.10 | 367.01 |
| Fibonacci | 361.47 | 362.37 | 362.93 | 363.83 | 364.73 | 365.29 | 366.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 351.47 | 355.50 | 358.14 | 362.17 | 364.81 | 368.84 | 371.48 |
| Camarilla | 358.95 | 359.56 | 360.17 | 360.78 | 361.39 | 362.00 | 362.61 |
| Woodie | 350.78 | 355.15 | 357.45 | 361.82 | 364.12 | 368.49 | 370.79 |
| Fibonacci | 355.50 | 358.05 | 359.62 | 362.17 | 364.72 | 366.29 | 368.84 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 342.45 | 346.86 | 355.14 | 359.55 | 367.83 | 372.24 | 380.52 |
| Camarilla | 359.93 | 361.09 | 362.26 | 363.42 | 364.58 | 365.75 | 366.91 |
| Woodie | 344.39 | 347.83 | 357.08 | 360.52 | 369.77 | 373.21 | 382.46 |
| Fibonacci | 346.86 | 351.71 | 354.70 | 359.55 | 364.40 | 367.39 | 372.24 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 73.68 | |
| MACD (12,26,9): | 0.3300 | |
| Directional Movement: | 23.58 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 364.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 363.12 | |
| Elder Ray (13): | 1.15 | |
| Super Trend (3,10): | 363.56 | |
| Zig ZAG (10): | 365.23 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 95.42 | |
| TEMA (21): | 364.25 | |
| Williams %R (14): | -5.60 | |
| Chande Momentum Oscillator (20): | 1.71 | |
| Repulse (5,40,3): | 0.3800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.48 |
| MA7: | 363.28 | |
| MA20: | 362.06 | |
| MA50: | 358.34 | |
| MA100: | 354.13 | |
| MAexp7: | 364.28 | |
| MAexp20: | 363.74 | |
| MAexp50: | 363.31 | |
| MAexp100: | 362.95 | |
| Price / MA7: | +0.43% | |
| Price / MA20: | +0.77% | |
| Price / MA50: | +1.81% | |
| Price / MA100: | +3.02% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | +0.30% | |
| Price / MAexp50: | +0.42% | |
| Price / MAexp100: | +0.52% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis USD/HUF - 1H