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
83%
0%
17%
My opinion
Bullish above 1.0826 USD
My targets
1.0867 USD (+0.0008)
1.0953 USD (+0.0094)
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 1.0826 USD. The next resistance located at 1.0867 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.
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
8.8
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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 1.0859 USD. The price registered an increase of +0.42% on the session and was between 1.0813 USD and 1.0875 USD. This implies that the price is at +0.43% from its lowest and at -0.15% from its highest.1.0813
1.0875
1.0859
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 LOW record (1st january)
Type : Bearish
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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
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, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0791 | 1.0813 | 1.0826 | 1.0859 | 1.0862 | 1.0953 | 1.1108 |
| Change (%) | -0.63% | -0.42% | -0.30% | - | +0.03% | +0.87% | +2.29% |
| Change | -0.0068 | -0.0046 | -0.0033 | - | +0.0003 | +0.0094 | +0.0249 |
| Level | Minor | Minor | Intermediate | - | Minor | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 67.99 | |
| MACD (12,26,9): | 0.0012 | |
| Directional Movement: | 26.8192 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.0847 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0832 | |
| Elder Ray (13): | 0.0028 | |
| Super Trend (3,10): | 1.0820 | |
| Zig ZAG (10): | 1.0863 | |
| VORTEX (21): | 1.1667 | |
| Stochastique (14,3,5): | 64.39 | |
| TEMA (21): | 1.0851 | |
| Williams %R (14): | -23.21 | |
| Chande Momentum Oscillator (20): | 0.0036 | |
| Repulse (5,40,3): | 0.1276 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0122 | |
| Courbe Coppock: | 0.45 |
| MA7: | 1.0788 | |
| MA20: | 1.0733 | |
| MA50: | 1.0786 | |
| MA100: | 1.0824 | |
| MAexp7: | 1.0846 | |
| MAexp20: | 1.0832 | |
| MAexp50: | 1.0815 | |
| MAexp100: | 1.0797 | |
| Price / MA7: | +0.66% | |
| Price / MA20: | +1.17% | |
| Price / MA50: | +0.68% | |
| Price / MA100: | +0.32% | |
| Price / MAexp7: | +0.12% | |
| Price / MAexp20: | +0.25% | |
| Price / MAexp50: | +0.41% | |
| Price / MAexp100: | +0.57% |
Quotes :
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Real time data
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Forex
News
The last news published on EUR/USD at the time of the generation of this analysis was as follows:
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EUR/USD Daily Forecast and Technical Analysis for May 15, 2024, by Chris Lewis for FX Empire
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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
This member declared not having a position on this financial instrument or a related financial instrument.
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