EUR/USD - 1H - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
0%
33%
My opinion
Bullish above 1.0835 USD
My targets
1.0895 USD (+0.0023)
1.0953 USD (+0.0081)
My analysis
The bullish trend is currently very strong on EUR/USD. As long as the price remains above the support at 1.0835 USD, you could try to benefit from the boom. The first bullish objective is located at 1.0895 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 1.1004 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, 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
7.1
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Additional analysis
Quotes
The EUR/USD rating is 1.0872 USD. On the day, this instrument gained +0.04% and was traded between 1.0860 USD and 1.0877 USD over the period. The price is currently at +0.11% from its lowest and -0.05% from its highest.1.0860
1.0877
1.0872
Here is a more detailed summary of the historical variations registered by EUR/USD:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/USD in 1H shows a strongly overall bullish trend. 82.14% 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0813 | 1.0835 | 1.0862 | 1.0872 | 1.0879 | 1.0895 | 1.0953 |
| Change (%) | -0.54% | -0.34% | -0.09% | - | +0.06% | +0.21% | +0.75% |
| Change | -0.0059 | -0.0037 | -0.0010 | - | +0.0007 | +0.0023 | +0.0081 |
| Level | Minor | Intermediate | Minor | - | Minor | Intermediate | Major |
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 | 1.0798 | 1.0817 | 1.0842 | 1.0861 | 1.0886 | 1.0905 | 1.0930 |
| Camarilla | 1.0856 | 1.0860 | 1.0864 | 1.0868 | 1.0872 | 1.0876 | 1.0880 |
| Woodie | 1.0802 | 1.0819 | 1.0846 | 1.0863 | 1.0890 | 1.0907 | 1.0934 |
| Fibonacci | 1.0817 | 1.0834 | 1.0844 | 1.0861 | 1.0878 | 1.0888 | 1.0905 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0662 | 1.0714 | 1.0791 | 1.0843 | 1.0920 | 1.0972 | 1.1049 |
| Camarilla | 1.0833 | 1.0844 | 1.0856 | 1.0868 | 1.0880 | 1.0892 | 1.0904 |
| Woodie | 1.0675 | 1.0720 | 1.0804 | 1.0849 | 1.0933 | 1.0978 | 1.1062 |
| Fibonacci | 1.0714 | 1.0763 | 1.0794 | 1.0843 | 1.0892 | 1.0923 | 1.0972 |
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): | 56.75 | |
| MACD (12,26,9): | 0.0003 | |
| Directional Movement: | 3.7754 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 1.0872 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0853 | |
| Elder Ray (13): | 0.0004 | |
| Super Trend (3,10): | 1.0851 | |
| Zig ZAG (10): | 1.0872 | |
| VORTEX (21): | 1.0670 | |
| Stochastique (14,3,5): | 84.63 | |
| TEMA (21): | 1.0874 | |
| Williams %R (14): | -25.00 | |
| Chande Momentum Oscillator (20): | 0.0005 | |
| Repulse (5,40,3): | 0.0130 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0026 | |
| Courbe Coppock: | 0.36 |
| MA7: | 1.0854 | |
| MA20: | 1.0775 | |
| MA50: | 1.0781 | |
| MA100: | 1.0818 | |
| MAexp7: | 1.0873 | |
| MAexp20: | 1.0868 | |
| MAexp50: | 1.0862 | |
| MAexp100: | 1.0847 | |
| Price / MA7: | +0.17% | |
| Price / MA20: | +0.90% | |
| Price / MA50: | +0.84% | |
| Price / MA100: | +0.50% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.09% | |
| Price / MAexp100: | +0.23% |
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 Long Term Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 16, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 15, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 14, 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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