EUR/USD - 1H - Technical analysis published on 05/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 1.0765 USD
My targets
1.0813 USD (+0.0020)
1.0862 USD (+0.0069)
My analysis
The basic bullish trend is very strong on EUR/USD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 1.0765 USD. Crossing the first resistance at 1.0813 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 1.0862 USD as an objective. Crossing it would then enable buyers to target 1.0953 USD. Caution, a return to below 1.0765 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.8
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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 1.0793 USD. The price registered an increase of +0.01% on the session and was between 1.0775 USD and 1.0794 USD. This implies that the price is at +0.17% from its lowest and at -0.01% from its highest.1.0775
1.0794
1.0793
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
Technical analysis of this 1H chart of EUR/USD indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0724 | 1.0765 | 1.0791 | 1.0793 | 1.0813 | 1.0862 | 1.0953 |
| Change (%) | -0.64% | -0.26% | -0.02% | - | +0.19% | +0.64% | +1.48% |
| Change | -0.0069 | -0.0028 | -0.0002 | - | +0.0020 | +0.0069 | +0.0160 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Minor | Major |
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 | 1.0729 | 1.0747 | 1.0770 | 1.0788 | 1.0811 | 1.0829 | 1.0852 |
| Camarilla | 1.0781 | 1.0785 | 1.0788 | 1.0792 | 1.0796 | 1.0800 | 1.0803 |
| Woodie | 1.0731 | 1.0748 | 1.0772 | 1.0789 | 1.0813 | 1.0830 | 1.0854 |
| Fibonacci | 1.0747 | 1.0763 | 1.0773 | 1.0788 | 1.0804 | 1.0814 | 1.0829 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0666 | 1.0695 | 1.0733 | 1.0762 | 1.0800 | 1.0829 | 1.0867 |
| Camarilla | 1.0753 | 1.0759 | 1.0765 | 1.0771 | 1.0777 | 1.0783 | 1.0789 |
| Woodie | 1.0671 | 1.0697 | 1.0738 | 1.0764 | 1.0805 | 1.0831 | 1.0872 |
| Fibonacci | 1.0695 | 1.0721 | 1.0736 | 1.0762 | 1.0788 | 1.0803 | 1.0829 |
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): | 57.93 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | -2.1551 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 1.0790 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0798 | |
| Elder Ray (13): | 0.0001 | |
| Super Trend (3,10): | 1.0776 | |
| Zig ZAG (10): | 1.0793 | |
| VORTEX (21): | 0.9549 | |
| Stochastique (14,3,5): | 57.74 | |
| TEMA (21): | 1.0788 | |
| Williams %R (14): | -5.26 | |
| Chande Momentum Oscillator (20): | 0.0003 | |
| Repulse (5,40,3): | 0.1128 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0028 | |
| Courbe Coppock: | 0.10 |
| MA7: | 1.0772 | |
| MA20: | 1.0722 | |
| MA50: | 1.0786 | |
| MA100: | 1.0826 | |
| MAexp7: | 1.0788 | |
| MAexp20: | 1.0787 | |
| MAexp50: | 1.0782 | |
| MAexp100: | 1.0773 | |
| Price / MA7: | +0.19% | |
| Price / MA20: | +0.66% | |
| Price / MA50: | +0.06% | |
| Price / MA100: | -0.30% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | +0.10% | |
| Price / MAexp100: | +0.19% |
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:
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EUR/USD Daily Forecast and Technical Analysis for May 13, 2024, by Chris Lewis for FX Empire
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EUR/USD Long Term Forecast and Technical Analysis for May 10, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 10, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 09, 2024, by Chris Lewis for FX Empire
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