EUR/MXN - 1H - Technical analysis published on 12/01/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 24.0738 MXN
My targets
24.1759 MXN (+0.0444)
24.3940 MXN (+0.2625)
My analysis
The basic bullish trend is very strong on EUR/MXN but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 24.0738 MXN. Crossing the first resistance at 24.1759 MXN would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 24.3940 MXN as an objective. Crossing it would then enable buyers to target 25.7986 MXN. Caution, a return to below 24.0738 MXN would be a sign of a consolidation phase in the short-term basic trend. 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.
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
7
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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 24.1315 MXN. The price registered an increase of +0.25% on the session and was traded between 24.0119 MXN and 24.1796 MXN over the period. The price is currently at +0.50% from its lowest and -0.20% from its highest.24.0119
24.1796
24.1315
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EUR/MXN:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/MXN chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
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
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 24.0304 | 24.0738 | 24.1284 | 24.1315 | 24.1759 | 24.3940 | 25.7986 |
| Change (%) | -0.42% | -0.24% | -0.01% | - | +0.18% | +1.09% | +6.91% |
| Change | -0.1011 | -0.0577 | -0.0031 | - | +0.0444 | +0.2625 | +1.6671 |
| Level | Major | Minor | Major | - | Minor | Major | Minor |
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 | 23.8044 | 23.8804 | 23.9758 | 24.0518 | 24.1472 | 24.2232 | 24.3186 |
| Camarilla | 24.0240 | 24.0397 | 24.0554 | 24.0711 | 24.0868 | 24.1025 | 24.1182 |
| Woodie | 23.8140 | 23.8853 | 23.9854 | 24.0567 | 24.1568 | 24.2281 | 24.3282 |
| Fibonacci | 23.8804 | 23.9459 | 23.9864 | 24.0518 | 24.1173 | 24.1578 | 24.2232 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.4775 | 23.6010 | 23.7817 | 23.9052 | 24.0859 | 24.2094 | 24.3901 |
| Camarilla | 23.8789 | 23.9067 | 23.9346 | 23.9625 | 23.9904 | 24.0183 | 24.0462 |
| Woodie | 23.5062 | 23.6153 | 23.8104 | 23.9195 | 24.1146 | 24.2237 | 24.4188 |
| Fibonacci | 23.6010 | 23.7172 | 23.7890 | 23.9052 | 24.0214 | 24.0932 | 24.2094 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.5491 | 22.6368 | 23.3539 | 24.4416 | 25.1587 | 26.2464 | 26.9635 |
| Camarilla | 23.5748 | 23.7402 | 23.9057 | 24.0711 | 24.2365 | 24.4020 | 24.5674 |
| Woodie | 21.3639 | 22.5442 | 23.1687 | 24.3490 | 24.9735 | 26.1538 | 26.7783 |
| Fibonacci | 22.6368 | 23.3262 | 23.7521 | 24.4416 | 25.1310 | 25.5569 | 26.2464 |
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): | 59.15 | |
| MACD (12,26,9): | 0.0058 | |
| Directional Movement: | 5.0259 | |
| AROON (14): | -21.4286 | |
| DEMA (21): | 24.0670 | |
| Parabolic SAR (0,02-0,02-0,2): | 24.1118 | |
| Elder Ray (13): | -0.0069 | |
| Super Trend (3,10): | 23.9647 | |
| Zig ZAG (10): | 24.0825 | |
| VORTEX (21): | 0.9552 | |
| Stochastique (14,3,5): | 50.01 | |
| TEMA (21): | 24.0626 | |
| Williams %R (14): | -0.37 | |
| Chande Momentum Oscillator (20): | 0.0735 | |
| Repulse (5,40,3): | 0.3790 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0045 | |
| Courbe Coppock: | 0.02 |
| MA7: | 23.9293 | |
| MA20: | 24.0841 | |
| MA50: | 24.7617 | |
| MA100: | 25.3069 | |
| MAexp7: | 24.0954 | |
| MAexp20: | 24.0586 | |
| MAexp50: | 24.0270 | |
| MAexp100: | 23.9790 | |
| Price / MA7: | +0.84% | |
| Price / MA20: | +0.20% | |
| Price / MA50: | -2.55% | |
| Price / MA100: | -4.64% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | +0.31% | |
| Price / MAexp50: | +0.44% | |
| Price / MAexp100: | +0.64% |
Quotes :
2020-12-01 16:40:40
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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