EUR/MXN - 1H - Technical analysis published on 03/24/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
33%
22%
44%
My opinion
Bullish above 26.8915 MXN
My targets
27.3858 MXN (+0.3927)
28.6450 MXN (+1.6519)
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 26.8915 MXN. The buyers” bullish objective is set at 27.3858 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 28.6450 MXN. If there is any crossing, the next objective would be the resistance located at 30.3911 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 are indecisive, but do not change the general bullish opinion of this analysis.
FORCE
0
10
4.6
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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 26.9931 MXN. The price registered an increase of -0.98% on the session and was traded between 26.7314 MXN and 27.3230 MXN over the period. The price is currently at +0.98% from its lowest and -1.21% from its highest.26.7314
27.3230
26.9931
The Central Gaps scanner detects a bearish opening. A small advantage for sellers 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:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/MXN indicates that the overall trend is strongly bullish. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
On the 18 technical indicators analysed, 6 are bullish, 8 are neutral and 4 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 24.8638 | 25.7284 | 26.8915 | 26.9931 |
| Change (%) | -7.89% | -4.69% | -0.38% | - |
| Change | -2.1293 | -1.2647 | -0.1016 | - |
| Level | Minor | Intermediate | Intermediate | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.2179 | 25.6641 | 26.4626 | 26.9088 | 27.7073 | 28.1535 | 28.9520 |
| Camarilla | 26.9189 | 27.0330 | 27.1471 | 27.2612 | 27.3753 | 27.4894 | 27.6035 |
| Woodie | 25.3942 | 25.7522 | 26.6389 | 26.9969 | 27.8836 | 28.2416 | 29.1283 |
| Fibonacci | 25.6641 | 26.1395 | 26.4333 | 26.9088 | 27.3842 | 27.6780 | 28.1535 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.3752 | 22.6344 | 24.3805 | 25.6397 | 27.3858 | 28.6450 | 30.3911 |
| Camarilla | 25.3002 | 25.5757 | 25.8512 | 26.1267 | 26.4022 | 26.6777 | 26.9532 |
| Woodie | 21.6188 | 22.7561 | 24.6241 | 25.7614 | 27.6294 | 28.7667 | 30.6347 |
| Fibonacci | 22.6344 | 23.7824 | 24.4916 | 25.6397 | 26.7877 | 27.4969 | 28.6450 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.5117 | 19.2734 | 20.4506 | 21.2123 | 22.3895 | 23.1512 | 24.3284 |
| Camarilla | 21.0946 | 21.2723 | 21.4501 | 21.6278 | 21.8055 | 21.9833 | 22.1610 |
| Woodie | 18.7195 | 19.3773 | 20.6584 | 21.3162 | 22.5973 | 23.2551 | 24.5362 |
| Fibonacci | 19.2734 | 20.0141 | 20.4716 | 21.2123 | 21.9530 | 22.4105 | 23.1512 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 53.73 | |
| MACD (12,26,9): | 0.0658 | |
| Directional Movement: | 5.6530 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 27.1101 | |
| Parabolic SAR (0,02-0,02-0,2): | 26.7713 | |
| Elder Ray (13): | 0.0006 | |
| Super Trend (3,10): | 26.7258 | |
| Zig ZAG (10): | 27.0822 | |
| VORTEX (21): | 1.0158 | |
| Stochastique (14,3,5): | 68.72 | |
| TEMA (21): | 27.0273 | |
| Williams %R (14): | -40.75 | |
| Chande Momentum Oscillator (20): | -0.0426 | |
| Repulse (5,40,3): | -0.0508 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0471 | |
| Courbe Coppock: | 0.94 |
| MA7: | 26.0799 | |
| MA20: | 23.8451 | |
| MA50: | 21.8734 | |
| MA100: | 21.5529 | |
| MAexp7: | 27.0297 | |
| MAexp20: | 26.9929 | |
| MAexp50: | 26.7532 | |
| MAexp100: | 26.3716 | |
| Price / MA7: | +3.50% | |
| Price / MA20: | +13.20% | |
| Price / MA50: | +23.41% | |
| Price / MA100: | +25.24% | |
| Price / MAexp7: | -0.14% | |
| Price / MAexp20: | +0.00% | |
| Price / MAexp50: | +0.89% | |
| Price / MAexp100: | +2.35% |
This member declared not having a position on this financial instrument or a related financial instrument.
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