EUR/USD - 1H - Technical analysis published on 05/03/2024 (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
67%
0%
33%
My opinion
Bullish above 1.0708 USD
My targets
1.0753 USD (+0.0021)
1.0765 USD (+0.0033)
My analysis
EUR/USD 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 1.0708 USD. The next resistance located at 1.0753 USD 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 1.0765 USD. After this resistance, buyers could then target 1.0862 USD. 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
8.2
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/USD rating is 1.0732 USD. On the day, this instrument gained +0.02% and was between 1.0724 USD and 1.0740 USD. This implies that the price is at +0.07% from its lowest and at -0.07% from its highest.1.0724
1.0740
1.0732
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0678 | 1.0708 | 1.0729 | 1.0732 | 1.0753 | 1.0765 | 1.0862 |
| Change (%) | -0.50% | -0.22% | -0.03% | - | +0.20% | +0.31% | +1.21% |
| Change | -0.0054 | -0.0024 | -0.0003 | - | +0.0021 | +0.0033 | +0.0130 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | 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 | 1.0635 | 1.0655 | 1.0692 | 1.0712 | 1.0749 | 1.0769 | 1.0806 |
| Camarilla | 1.0714 | 1.0720 | 1.0725 | 1.0730 | 1.0735 | 1.0741 | 1.0746 |
| Woodie | 1.0645 | 1.0659 | 1.0702 | 1.0716 | 1.0759 | 1.0773 | 1.0816 |
| Fibonacci | 1.0655 | 1.0676 | 1.0690 | 1.0712 | 1.0733 | 1.0747 | 1.0769 |
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): | 62.65 | |
| MACD (12,26,9): | 0.0009 | |
| Directional Movement: | 13.7720 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.0736 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0718 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 1.0710 | |
| Zig ZAG (10): | 1.0734 | |
| VORTEX (21): | 1.1770 | |
| Stochastique (14,3,5): | 82.58 | |
| TEMA (21): | 1.0738 | |
| Williams %R (14): | -23.08 | |
| Chande Momentum Oscillator (20): | 0.0004 | |
| Repulse (5,40,3): | 0.0317 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0111 | |
| Courbe Coppock: | 0.49 |
| MA7: | 1.0711 | |
| MA20: | 1.0704 | |
| MA50: | 1.0795 | |
| MA100: | 1.0839 | |
| MAexp7: | 1.0732 | |
| MAexp20: | 1.0725 | |
| MAexp50: | 1.0712 | |
| MAexp100: | 1.0705 | |
| Price / MA7: | +0.20% | |
| Price / MA20: | +0.26% | |
| Price / MA50: | -0.58% | |
| Price / MA100: | -0.99% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | +0.19% | |
| Price / MAexp100: | +0.25% |
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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