EUR/MXN - 1H - Technical analysis published on 12/15/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
39%
17%
44%
My opinion
Bullish above 23.8200 MXN
My targets
24.0067 MXN (+0.0829)
24.1446 MXN (+0.2208)
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 23.8200 MXN. The buyers' bullish objective is set at 24.0067 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 24.1446 MXN. If there is any crossing, the next objective would be the resistance located at 24.2978 MXN. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
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
5.4
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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 23.9238 MXN. The price has increased by +0.09% since the last closing and was traded between 23.8348 MXN and 23.9660 MXN over the period. The price is currently at +0.37% from its lowest and -0.18% from its highest.23.8348
23.9660
23.9238
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
Here is a more detailed summary of the historical variations registered by EUR/MXN:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/MXN indicates that the overall trend is strongly bullish. 85.71% 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a slightly bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
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 | 23.6429 | 23.7382 | 23.8200 | 23.9238 | 23.9428 | 24.0067 | 24.1446 |
| Change (%) | -1.17% | -0.78% | -0.43% | - | +0.08% | +0.35% | +0.92% |
| Change | -0.2809 | -0.1856 | -0.1038 | - | +0.0190 | +0.0829 | +0.2208 |
| Level | Intermediate | Intermediate | Minor | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.3968 | 23.5209 | 23.7121 | 23.8362 | 24.0274 | 24.1515 | 24.3427 |
| Camarilla | 23.8166 | 23.8455 | 23.8744 | 23.9033 | 23.9322 | 23.9611 | 23.9900 |
| Woodie | 23.4304 | 23.5377 | 23.7457 | 23.8530 | 24.0610 | 24.1683 | 24.3763 |
| Fibonacci | 23.5209 | 23.6413 | 23.7158 | 23.8362 | 23.9566 | 24.0311 | 24.1515 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.8556 | 23.2034 | 23.4148 | 23.7626 | 23.9740 | 24.3218 | 24.5332 |
| Camarilla | 23.4723 | 23.5236 | 23.5748 | 23.6261 | 23.6774 | 23.7286 | 23.7799 |
| Woodie | 22.7873 | 23.1693 | 23.3465 | 23.7285 | 23.9057 | 24.2877 | 24.4649 |
| Fibonacci | 23.2034 | 23.4171 | 23.5490 | 23.7626 | 23.9763 | 24.1082 | 24.3218 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.8010 | 22.5730 | 23.4252 | 24.1972 | 25.0494 | 25.8214 | 26.6736 |
| Camarilla | 23.8309 | 23.9797 | 24.1286 | 24.2775 | 24.4264 | 24.5753 | 24.7242 |
| Woodie | 21.8412 | 22.5931 | 23.4654 | 24.2173 | 25.0896 | 25.8415 | 26.7138 |
| Fibonacci | 22.5730 | 23.1934 | 23.5767 | 24.1972 | 24.8176 | 25.2009 | 25.8214 |
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): | 52.93 | |
| MACD (12,26,9): | 0.0229 | |
| Directional Movement: | -2.8147 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 23.9309 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.9475 | |
| Elder Ray (13): | -0.0043 | |
| Super Trend (3,10): | 23.8225 | |
| Zig ZAG (10): | 23.9044 | |
| VORTEX (21): | 1.0042 | |
| Stochastique (14,3,5): | 40.84 | |
| TEMA (21): | 23.9187 | |
| Williams %R (14): | -28.02 | |
| Chande Momentum Oscillator (20): | 0.0191 | |
| Repulse (5,40,3): | 0.0329 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0221 | |
| Courbe Coppock: | 0.01 |
| MA7: | 23.7539 | |
| MA20: | 23.9583 | |
| MA50: | 23.7969 | |
| MA100: | 23.7103 | |
| MAexp7: | 23.9073 | |
| MAexp20: | 23.8901 | |
| MAexp50: | 23.8271 | |
| MAexp100: | 23.7894 | |
| Price / MA7: | +0.72% | |
| Price / MA20: | -0.14% | |
| Price / MA50: | +0.53% | |
| Price / MA100: | +0.90% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.14% | |
| Price / MAexp50: | +0.41% | |
| Price / MAexp100: | +0.56% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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