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:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 1.0791 USD
My targets
1.0862 USD (+0.0042)
1.0953 USD (+0.0133)
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 1.0791 USD. The next resistance located at 1.0862 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 1.0953 USD. After this resistance, buyers could then target 1.1108 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
8.4
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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 1.0820 USD. The price registered an increase of +0.26% on the session with the lowest point at 1.0767 USD and the highest point at 1.0826 USD. The deviation from the price is +0.49% for the low point and -0.06% for the high point.1.0767
1.0826
1.0820
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
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/USD in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0765 | 1.0791 | 1.0813 | 1.0820 | 1.0862 | 1.0953 | 1.1108 |
| Change (%) | -0.51% | -0.27% | -0.06% | - | +0.39% | +1.23% | +2.66% |
| Change | -0.0055 | -0.0029 | -0.0007 | - | +0.0042 | +0.0133 | +0.0288 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Major | 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 | 1.0729 | 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): | 69.86 | |
| MACD (12,26,9): | 0.0009 | |
| Directional Movement: | -4.2317 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 1.0812 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0774 | |
| Elder Ray (13): | 0.0012 | |
| Super Trend (3,10): | 1.0785 | |
| Zig ZAG (10): | 1.0819 | |
| VORTEX (21): | 1.1414 | |
| Stochastique (14,3,5): | 86.44 | |
| TEMA (21): | 1.0817 | |
| Williams %R (14): | -11.86 | |
| Chande Momentum Oscillator (20): | 0.0032 | |
| Repulse (5,40,3): | 0.0884 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0073 | |
| Courbe Coppock: | 0.47 |
| MA7: | 1.0775 | |
| MA20: | 1.0723 | |
| MA50: | 1.0787 | |
| MA100: | 1.0826 | |
| MAexp7: | 1.0813 | |
| MAexp20: | 1.0802 | |
| MAexp50: | 1.0790 | |
| MAexp100: | 1.0779 | |
| Price / MA7: | +0.42% | |
| Price / MA20: | +0.90% | |
| Price / MA50: | +0.31% | |
| Price / MA100: | -0.06% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.17% | |
| Price / MAexp50: | +0.28% | |
| Price / MAexp100: | +0.38% |
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 14, 2024, by Chris Lewis for FX Empire
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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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Trading volatility: EURUSD to move around US CPI inflation data?
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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
This member declared not having a position on this financial instrument or a related financial instrument.
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