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 bearish
Underlying:
Neutral
Technical indicators
22%
28%
50%
My opinion
Bearish under 1.0879 USD
My targets
1.0835 USD (-0.0029)
1.0813 USD (-0.0051)
My analysis
The current short-term bearish acceleration registered on EUR/USD should quickly allow the basic trend to return to a bearish trend. To avoid contradicting the short term, traders could favour short positions (for sale) as long as the price remains well below 1.0879 USD. Short-term sellers will use the support located at 1.0835 USD as an objective. A bearish break of this support would revive the bearish momentum. The next bearish objective would then be set at 1.0813 USD. Crossing this support would then open the door for sellers to target 1.0767 USD. Caution, if there is a return to below 1.0879 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend buyers, many of whom will certainly benefit from this movement.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
1.3
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Additional analysis
Quotes
EUR/USD rating 1.0864 USD. On the day, this instrument lost -0.04% and was traded between 1.0854 USD and 1.0885 USD over the period. The price is currently at +0.09% from its lowest and -0.19% from its highest.1.0854
1.0885
1.0864
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 neutral overall trend. This indecision could turn into a bearish trend due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 9 are neutral and 5 are bearish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
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 | 1.0813 | 1.0835 | 1.0862 | 1.0864 | 1.0879 | 1.0895 | 1.0953 |
| Change (%) | -0.47% | -0.27% | -0.02% | - | +0.14% | +0.29% | +0.82% |
| Change | -0.0051 | -0.0029 | -0.0002 | - | +0.0015 | +0.0031 | +0.0089 |
| Level | Minor | Intermediate | Minor | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
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): | 47.61 | |
| MACD (12,26,9): | -0.0001 | |
| Directional Movement: | -5.2125 | |
| AROON (14): | -42.8572 | |
| DEMA (21): | 1.0866 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0878 | |
| Elder Ray (13): | -0.0002 | |
| Super Trend (3,10): | 1.0883 | |
| Zig ZAG (10): | 1.0865 | |
| VORTEX (21): | 0.9867 | |
| Stochastique (14,3,5): | 35.48 | |
| TEMA (21): | 1.0864 | |
| Williams %R (14): | -64.52 | |
| Chande Momentum Oscillator (20): | -0.0013 | |
| Repulse (5,40,3): | -0.0001 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0002 | |
| Courbe Coppock: | 0.22 |
| MA7: | 1.0838 | |
| MA20: | 1.0766 | |
| MA50: | 1.0782 | |
| MA100: | 1.0818 | |
| MAexp7: | 1.0865 | |
| MAexp20: | 1.0867 | |
| MAexp50: | 1.0865 | |
| MAexp100: | 1.0853 | |
| Price / MA7: | +0.24% | |
| Price / MA20: | +0.91% | |
| Price / MA50: | +0.76% | |
| Price / MA100: | +0.43% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | -0.01% | |
| Price / MAexp100: | +0.10% |
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:
-
EUR/USD Daily Forecast and Technical Analysis for May 20, 2024, by Chris Lewis for FX Empire
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EUR/USD Long Term Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 16, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 15, 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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