EUR/MXN - 1H - Technical analysis published on 05/01/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 26.7202 MXN
My targets
26.9419 MXN (+0.1310)
27.2612 MXN (+0.4503)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/MXN as long as the price remains well above 26.7202 MXN. The buyers” bullish objective is set at 26.9419 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 27.2612 MXN.
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
6.6
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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 EUR/MXN price is 26.8109 MXN. On the day, this instrument lost +1.11% and was traded between 26.4703 MXN and 26.8183 MXN over the period. The price is currently at +1.29% from its lowest and -0.03% from its highest.26.4703
26.8183
26.8109
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/MXN indicates that the overall trend is bullish. 75% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Three white soldiers
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 26.2688 | 26.4317 | 26.7202 | 26.8109 | 26.9419 | 27.2612 |
| Change (%) | -2.02% | -1.41% | -0.34% | - | +0.49% | +1.68% |
| Change | -0.5421 | -0.3792 | -0.0907 | - | +0.1310 | +0.4503 |
| Level | Intermediate | Intermediate | Major | - | Minor | 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 | 25.5468 | 25.7526 | 26.1351 | 26.3409 | 26.7234 | 26.9292 | 27.3117 |
| Camarilla | 26.3559 | 26.4098 | 26.4638 | 26.5177 | 26.5716 | 26.6256 | 26.6795 |
| Woodie | 25.6353 | 25.7968 | 26.2236 | 26.3851 | 26.8119 | 26.9734 | 27.4002 |
| Fibonacci | 25.7526 | 25.9773 | 26.1161 | 26.3409 | 26.5656 | 26.7044 | 26.9292 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 24.8659 | 25.4037 | 26.2190 | 26.7568 | 27.5721 | 28.1099 | 28.9252 |
| Camarilla | 26.6623 | 26.7863 | 26.9104 | 27.0344 | 27.1584 | 27.2825 | 27.4065 |
| Woodie | 25.0048 | 25.4731 | 26.3579 | 26.8262 | 27.7110 | 28.1793 | 29.0641 |
| Fibonacci | 25.4037 | 25.9206 | 26.2399 | 26.7568 | 27.2737 | 27.5930 | 28.1099 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.8956 | 24.1717 | 25.3447 | 26.6208 | 27.7938 | 29.0699 | 30.2429 |
| Camarilla | 25.8442 | 26.0687 | 26.2932 | 26.5177 | 26.7422 | 26.9667 | 27.1912 |
| Woodie | 22.8441 | 24.1459 | 25.2932 | 26.5950 | 27.7423 | 29.0441 | 30.1914 |
| Fibonacci | 24.1717 | 25.1073 | 25.6852 | 26.6208 | 27.5564 | 28.1343 | 29.0699 |
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): | 69.62 | |
| MACD (12,26,9): | 0.1805 | |
| Directional Movement: | 23.5599 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 26.7062 | |
| Parabolic SAR (0,02-0,02-0,2): | 26.5630 | |
| Elder Ray (13): | 0.1288 | |
| Super Trend (3,10): | 26.4190 | |
| Zig ZAG (10): | 26.7308 | |
| VORTEX (21): | 1.2256 | |
| Stochastique (14,3,5): | 87.52 | |
| TEMA (21): | 26.8319 | |
| Williams %R (14): | -14.15 | |
| Chande Momentum Oscillator (20): | 0.3374 | |
| Repulse (5,40,3): | 0.2607 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0919 | |
| Courbe Coppock: | 3.50 |
| MA7: | 26.5695 | |
| MA20: | 26.2474 | |
| MA50: | 25.0643 | |
| MA100: | 22.9179 | |
| MAexp7: | 26.6905 | |
| MAexp20: | 26.4829 | |
| MAexp50: | 26.3249 | |
| MAexp100: | 26.3504 | |
| Price / MA7: | +0.91% | |
| Price / MA20: | +2.15% | |
| Price / MA50: | +6.97% | |
| Price / MA100: | +16.99% | |
| Price / MAexp7: | +0.45% | |
| Price / MAexp20: | +1.24% | |
| Price / MAexp50: | +1.85% | |
| Price / MAexp100: | +1.75% |
This member declared not having a position on this financial instrument or a related financial instrument.
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