EUR/USD - 1H - Technical analysis published on 05/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 1.0708 USD
My targets
1.0649 USD (-0.0032)
1.0638 USD (-0.0043)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on EUR/USD as long as the price remains well below 1.0708 USD. The next bearish objective for sellers is set at 1.0649 USD. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 1.0638 USD. If there is any crossing, the next objective would be the support located at 1.0624 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
4.6
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/USD rating 1.0681 USD. The price registered a decrease of -0.34% on the session with the lowest point at 1.0676 USD and the highest point at 1.0729 USD. The deviation from the price is +0.05% for the low point and -0.45% for the high point.1.0676
1.0729
1.0681
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 (1 year)
Type : Bearish
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
A technical analysis in 1H of this EUR/USD chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0638 | 1.0649 | 1.0678 | 1.0681 | 1.0708 | 1.0735 | 1.0753 |
| Change (%) | -0.40% | -0.30% | -0.03% | - | +0.25% | +0.51% | +0.67% |
| Change | -0.0043 | -0.0032 | -0.0003 | - | +0.0027 | +0.0054 | +0.0072 |
| Level | Major | Minor | Intermediate | - | Intermediate | Intermediate | 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 | 1.0582 | 1.0616 | 1.0666 | 1.0700 | 1.0750 | 1.0784 | 1.0834 |
| Camarilla | 1.0694 | 1.0702 | 1.0709 | 1.0717 | 1.0725 | 1.0732 | 1.0740 |
| Woodie | 1.0591 | 1.0620 | 1.0675 | 1.0704 | 1.0759 | 1.0788 | 1.0843 |
| Fibonacci | 1.0616 | 1.0648 | 1.0668 | 1.0700 | 1.0732 | 1.0752 | 1.0784 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0499 | 1.0561 | 1.0628 | 1.0690 | 1.0757 | 1.0819 | 1.0886 |
| Camarilla | 1.0659 | 1.0670 | 1.0682 | 1.0694 | 1.0706 | 1.0718 | 1.0730 |
| Woodie | 1.0501 | 1.0562 | 1.0630 | 1.0691 | 1.0759 | 1.0820 | 1.0888 |
| Fibonacci | 1.0561 | 1.0611 | 1.0641 | 1.0690 | 1.0740 | 1.0770 | 1.0819 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0266 | 1.0433 | 1.0550 | 1.0717 | 1.0834 | 1.1001 | 1.1118 |
| Camarilla | 1.0588 | 1.0614 | 1.0640 | 1.0666 | 1.0692 | 1.0718 | 1.0744 |
| Woodie | 1.0240 | 1.0421 | 1.0524 | 1.0705 | 1.0808 | 1.0989 | 1.1092 |
| Fibonacci | 1.0433 | 1.0542 | 1.0609 | 1.0717 | 1.0826 | 1.0893 | 1.1001 |
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): | 38.88 | |
| MACD (12,26,9): | 0.0002 | |
| Directional Movement: | -1.9225 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 1.0707 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0726 | |
| Elder Ray (13): | -0.0012 | |
| Super Trend (3,10): | 1.0683 | |
| Zig ZAG (10): | 1.0684 | |
| VORTEX (21): | 1.0284 | |
| Stochastique (14,3,5): | 16.31 | |
| TEMA (21): | 1.0706 | |
| Williams %R (14): | -91.84 | |
| Chande Momentum Oscillator (20): | -0.0032 | |
| Repulse (5,40,3): | -0.2307 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0097 | |
| Courbe Coppock: | 0.15 |
| MA7: | 1.0700 | |
| MA20: | 1.0707 | |
| MA50: | 1.0796 | |
| MA100: | 1.0840 | |
| MAexp7: | 1.0700 | |
| MAexp20: | 1.0702 | |
| MAexp50: | 1.0698 | |
| MAexp100: | 1.0697 | |
| Price / MA7: | -0.18% | |
| Price / MA20: | -0.24% | |
| Price / MA50: | -1.07% | |
| Price / MA100: | -1.47% | |
| Price / MAexp7: | -0.19% | |
| Price / MAexp20: | -0.21% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.16% |
Quotes :
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Real time data
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Forex
News
The last news published on EUR/USD at the time of the generation of this analysis was as follows:
-
EUR/USD Forecast May 3, 2024
-
EUR/USD Daily Forecast and Technical Analysis for May 02, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 01, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for April 30, 2024, by Chris Lewis for FX Empire
-
Weekly Technical Outlook: 29/04/2024 - USDJPY, EURUSD, Oil
This member declared not having a position on this financial instrument or a related financial instrument.
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