EUR/USD - 1H - Technical analysis published on 05/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.0708 USD
My targets
1.0753 USD (+0.0024)
1.0862 USD (+0.0133)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/USD as long as the price remains well above 1.0708 USD. The buyers' bullish objective is set at 1.0753 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.0862 USD. If there is any crossing, the next objective would be the resistance located at 1.0950 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
8.4
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Additional analysis
Quotes
The EUR/USD rating is 1.0729 USD. The price has increased by +0.11% since the last closing and was traded between 1.0674 USD and 1.0730 USD over the period. The price is currently at +0.52% from its lowest and -0.01% from its highest.1.0674
1.0730
1.0729
Here is a more detailed summary of the historical variations registered by EUR/USD:
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
Technical analysis of EUR/USD in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 1.0649 | 1.0678 | 1.0708 | 1.0729 | 1.0735 | 1.0753 | 1.0862 |
| Change (%) | -0.75% | -0.48% | -0.20% | - | +0.06% | +0.22% | +1.24% |
| Change | -0.0080 | -0.0051 | -0.0021 | - | +0.0006 | +0.0024 | +0.0133 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | 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 | 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): | 62.06 | |
| MACD (12,26,9): | 0.0007 | |
| Directional Movement: | 11.7274 | |
| AROON (14): | 28.5715 | |
| DEMA (21): | 1.0722 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0689 | |
| Elder Ray (13): | 0.0009 | |
| Super Trend (3,10): | 1.0692 | |
| Zig ZAG (10): | 1.0728 | |
| VORTEX (21): | 1.0669 | |
| Stochastique (14,3,5): | 92.86 | |
| TEMA (21): | 1.0725 | |
| Williams %R (14): | -1.79 | |
| Chande Momentum Oscillator (20): | 0.0025 | |
| Repulse (5,40,3): | 0.0881 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0080 | |
| Courbe Coppock: | 0.20 |
| MA7: | 1.0707 | |
| MA20: | 1.0709 | |
| MA50: | 1.0797 | |
| MA100: | 1.0840 | |
| MAexp7: | 1.0722 | |
| MAexp20: | 1.0713 | |
| MAexp50: | 1.0704 | |
| MAexp100: | 1.0701 | |
| Price / MA7: | +0.21% | |
| Price / MA20: | +0.19% | |
| Price / MA50: | -0.63% | |
| Price / MA100: | -1.02% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.15% | |
| Price / MAexp50: | +0.23% | |
| Price / MAexp100: | +0.26% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on EUR/USD. At the time of publication of this analysis, the latest news 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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