EUR/USD - 1H - Technical analysis published on 05/15/2024 (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
39%
17%
44%
My opinion
Bullish above 1.0813 USD
My targets
1.0862 USD (+0.0033)
1.0953 USD (+0.0124)
My analysis
The bullish trend is currently very strong on EUR/USD. As long as the price remains above the support at 1.0813 USD, you could try to benefit from the boom. The first bullish objective is located at 1.0862 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.0953 USD as an objective. Crossing it would then enable buyers to target 1.1108 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
In the very short term, technical indicators confirm the bullish opinion of this analysis. 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
The EUR/USD price is 1.0829 USD. On the day, this instrument gained +0.14% and was traded between 1.0813 USD and 1.0835 USD over the period. The price is currently at +0.15% from its lowest and -0.06% from its highest.1.0813
1.0835
1.0829
Here is a more detailed summary of the historical variations registered by EUR/USD:
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 this 1H chart of EUR/USD indicates that the overall trend is strongly bullish. 92.86% 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 scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is slight given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
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 | 1.0791 | 1.0813 | 1.0826 | 1.0829 | 1.0862 | 1.0953 | 1.1108 |
| Change (%) | -0.35% | -0.15% | -0.03% | - | +0.30% | +1.15% | +2.58% |
| Change | -0.0038 | -0.0016 | -0.0003 | - | +0.0033 | +0.0124 | +0.0279 |
| Level | Minor | 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 | 1.0720 | 1.0743 | 1.0779 | 1.0802 | 1.0838 | 1.0861 | 1.0897 |
| Camarilla | 1.0798 | 1.0803 | 1.0809 | 1.0814 | 1.0819 | 1.0825 | 1.0830 |
| Woodie | 1.0726 | 1.0746 | 1.0785 | 1.0805 | 1.0844 | 1.0864 | 1.0903 |
| Fibonacci | 1.0743 | 1.0766 | 1.0780 | 1.0802 | 1.0825 | 1.0839 | 1.0861 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 58.35 | |
| MACD (12,26,9): | 0.0007 | |
| Directional Movement: | 3.4971 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.0830 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0817 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 1.0807 | |
| Zig ZAG (10): | 1.0824 | |
| VORTEX (21): | 1.0902 | |
| Stochastique (14,3,5): | 57.58 | |
| TEMA (21): | 1.0830 | |
| Williams %R (14): | -50.00 | |
| Chande Momentum Oscillator (20): | 0.0010 | |
| Repulse (5,40,3): | -0.0477 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0102 | |
| Courbe Coppock: | 0.15 |
| MA7: | 1.0783 | |
| MA20: | 1.0731 | |
| MA50: | 1.0785 | |
| MA100: | 1.0824 | |
| MAexp7: | 1.0826 | |
| MAexp20: | 1.0821 | |
| MAexp50: | 1.0807 | |
| MAexp100: | 1.0792 | |
| Price / MA7: | +0.43% | |
| Price / MA20: | +0.91% | |
| Price / MA50: | +0.41% | |
| Price / MA100: | +0.05% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.08% | |
| Price / MAexp50: | +0.21% | |
| Price / MAexp100: | +0.35% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on EUR/USD at the time of the analysis were 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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