EUR/CNH
EUR CNH
- CNH (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: EURCNH
ISIN:

EUR/CNH - Daily - Technical analysis published on 08/29/2023 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : INVALID

Summary of the analysis

Trends
Short term: Bearish
Underlying: Bullish
Technical indicators
17%
50%
33%
My opinion
Bullish above 7.84305 CNH
My targets
7.98706 CNH (+0.09440)
8.08824 CNH (+0.19558)
My analysis
With a bullish background trend, the price of EUR/CNH is trying to inflate a little with a slight short-term relapse. At this stage, no trend reversal is in sight. Globally, buyers have the upper hand. Traders could allow themselves to trade long positions (at the time of purchase) as long as the price remains above the support located at 7.84305 CNH. A bullish break in the resistance located at 7.98706 CNH would boost the bullish momentum and fuel the basic trend. Then the price could move towards 8.08824 CNH. Then 8.30641 CNH by extension. It would be safer to wait for a bullish break in the resistance located at 7.98706 CNH before allowing yourself to re trade long positions (at purchase) on EUR/CNH. PS: if there is a bearish break in the support located at 7.84305 CNH we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
Force
0
10
0

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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

EUR/CNH rating 7.89266 CNH. The price registered an increase of +0.00% on the session and was between 7.88513 CNH and 7.90470 CNH. This implies that the price is at +0.10% from its lowest and at -0.15% from its highest.

7.88513
7.90470
7.89266

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

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 HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this Daily chart of EUR/CNH indicates that the overall trend is bullish. The signals given by moving averages are 64.29% bullish. This bullish trend could slow down given the slightly bearish signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Central Indicators

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : Daily



Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near support of channel

Type : Bullish

Timeframe : Daily


Near support of triangle

Type : Bullish

Timeframe : Daily



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 7.51900 7.69878 7.84305 7.89266 7.98706 8.08824 8.30641
Change (%) -4.73% -2.46% -0.63% - +1.20% +2.48% +5.24%
Change -0.37366 -0.19388 -0.04961 - +0.09440 +0.19558 +0.41375
Level Major Intermediate Major - Intermediate Major Major



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
Standard7.821007.839427.866217.884637.911427.929847.95663
Camarilla7.880587.884727.888877.893017.897157.901307.90544
Woodie7.825207.841517.870417.886727.915627.931937.96083
Fibonacci7.839427.856697.867367.884637.901907.912577.92984


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7.694767.773027.823977.902237.953188.031448.08239
Camarilla7.839407.851247.863097.874937.886777.898627.91046
Woodie7.681127.766197.810337.895407.939548.024618.06875
Fibonacci7.773027.822387.852877.902237.951597.982088.03144


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7.472137.654477.758907.941248.045678.228018.33244
Camarilla7.784487.810777.837057.863347.889637.915927.94220
Woodie7.433197.634997.719967.921768.006738.208538.29350
Fibonacci7.654477.764017.831697.941248.050788.118468.22801

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): 45.07
MACD (12,26,9): -0.0066
Directional Movement: -3.78704
AROON (14): -57.14286
DEMA (21): 7.91404
Parabolic SAR (0,02-0,02-0,2): 7.98960
Elder Ray (13): -0.01753
Super Trend (3,10): 8.03303
Zig ZAG (10): 7.89219
VORTEX (21): 1.0289
Stochastique (14,3,5): 21.21
TEMA (21): 7.89003
Williams %R (14): -74.98
Chande Momentum Oscillator (20): -0.05585
Repulse (5,40,3): -0.1016
ROCnROLL: -1
TRIX (15,9): 0.0003
Courbe Coppock: 0.40
MA7: 7.90204
MA20: 7.92215
MA50: 7.93171
MA100: 7.78185
MAexp7: 7.90137
MAexp20: 7.91774
MAexp50: 7.88760
MAexp100: 7.78467
Price / MA7: -0.12%
Price / MA20: -0.37%
Price / MA50: -0.49%
Price / MA100: +1.42%
Price / MAexp7: -0.11%
Price / MAexp20: -0.32%
Price / MAexp50: +0.06%
Price / MAexp100: +1.39%

Quotes : - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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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…

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