MAKER - MKR/USD - 1H - Technical analysis published on 08/05/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 581.09 USD
My targets
626.00 USD (+5.52%)
665.50 USD (+12.18%)
My analysis
MAKER - MKR/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 581.09 USD. The next resistance located at 626.00 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 665.50 USD. After this resistance, buyers could then target 688.74 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, 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
7.9
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MAKER - MKR/USD price is 593.25 USD. The price registered an increase of +2.11% on the session with the lowest point at 583.15 USD and the highest point at 593.53 USD. The deviation from the price is +1.73% for the low point and -0.05% for the high point.583.15
593.53
593.25
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this MAKER - MKR/USD chart shows a strongly 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 scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
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:
Resistance of channel is broken
Type : Bullish
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 | 569.05 | 581.09 | 592.37 | 593.25 | 627.54 | 688.74 | 775.07 |
| Change (%) | -4.08% | -2.05% | -0.15% | - | +5.78% | +16.10% | +30.65% |
| Change | -24.20 | -12.16 | -0.88 | - | +34.29 | +95.49 | +181.82 |
| Level | Minor | Minor | Minor | - | Intermediate | Intermediate | Intermediate |
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 | 562.67 | 570.59 | 575.79 | 583.71 | 588.91 | 596.83 | 602.03 |
| Camarilla | 577.39 | 578.60 | 579.80 | 581.00 | 582.20 | 583.41 | 584.61 |
| Woodie | 561.32 | 569.91 | 574.44 | 583.03 | 587.56 | 596.15 | 600.68 |
| Fibonacci | 570.59 | 575.60 | 578.70 | 583.71 | 588.72 | 591.82 | 596.83 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 428.47 | 463.84 | 529.30 | 564.67 | 630.13 | 665.50 | 730.96 |
| Camarilla | 567.04 | 576.29 | 585.53 | 594.77 | 604.01 | 613.26 | 622.50 |
| Woodie | 443.53 | 471.36 | 544.36 | 572.19 | 645.19 | 673.02 | 746.02 |
| Fibonacci | 463.84 | 502.35 | 526.15 | 564.67 | 603.18 | 626.98 | 665.50 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 290.26 | 360.44 | 458.13 | 528.31 | 626.00 | 696.18 | 793.87 |
| Camarilla | 509.67 | 525.05 | 540.44 | 555.83 | 571.22 | 586.61 | 601.99 |
| Woodie | 304.03 | 367.32 | 471.90 | 535.19 | 639.77 | 703.06 | 807.64 |
| Fibonacci | 360.44 | 424.56 | 464.18 | 528.31 | 592.43 | 632.05 | 696.18 |
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): | 54.91 | |
| MACD (12,26,9): | 1.6600 | |
| Directional Movement: | 4.19 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 584.08 | |
| Parabolic SAR (0,02-0,02-0,2): | 517.33 | |
| Elder Ray (13): | 9.71 | |
| Super Trend (3,10): | 561.11 | |
| Zig ZAG (10): | 592.62 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 98.60 | |
| TEMA (21): | 585.06 | |
| Williams %R (14): | -0.11 | |
| Chande Momentum Oscillator (20): | 8.03 | |
| Repulse (5,40,3): | 1.1300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.16 |
| MA7: | 579.46 | |
| MA20: | 524.44 | |
| MA50: | 495.16 | |
| MA100: | 449.28 | |
| MAexp7: | 585.96 | |
| MAexp20: | 582.43 | |
| MAexp50: | 580.05 | |
| MAexp100: | 573.41 | |
| Price / MA7: | +2.38% | |
| Price / MA20: | +13.12% | |
| Price / MA50: | +19.81% | |
| Price / MA100: | +32.04% | |
| Price / MAexp7: | +1.24% | |
| Price / MAexp20: | +1.86% | |
| Price / MAexp50: | +2.28% | |
| Price / MAexp100: | +3.46% |
Quotes :
2020-08-05 12:42:23
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
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