EUR/TRY - 1H - Technical analysis published on 07/09/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 7.7729 TRY
My targets
7.8345 TRY (+0.0393)
7.9252 TRY (+0.1300)
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/TRY as long as the price remains well above 7.7729 TRY. The buyers” bullish objective is set at 7.8345 TRY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.9252 TRY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
8.8
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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/TRY rating is 7.7952 TRY. On the day, this instrument gained +0.26% and was traded between 7.7678 TRY and 7.8005 TRY over the period. The price is currently at +0.35% from its lowest and -0.07% from its highest.7.7678
7.8005
7.7952
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
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
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/TRY chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
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 2
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 7.7474 | 7.7729 | 7.7910 | 7.7952 | 7.9252 |
| Change (%) | -0.61% | -0.29% | -0.05% | - | +1.67% |
| Change | -0.0478 | -0.0223 | -0.0042 | - | +0.1300 |
| Level | Minor | Major | Intermediate | - | 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 | 7.6768 | 7.7028 | 7.7389 | 7.7649 | 7.8010 | 7.8270 | 7.8631 |
| Camarilla | 7.7578 | 7.7635 | 7.7692 | 7.7749 | 7.7806 | 7.7863 | 7.7920 |
| Woodie | 7.6818 | 7.7053 | 7.7439 | 7.7674 | 7.8060 | 7.8295 | 7.8681 |
| Fibonacci | 7.7028 | 7.7266 | 7.7412 | 7.7649 | 7.7887 | 7.8033 | 7.8270 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5942 | 7.6308 | 7.6743 | 7.7109 | 7.7544 | 7.7910 | 7.8345 |
| Camarilla | 7.6959 | 7.7032 | 7.7106 | 7.7179 | 7.7252 | 7.7326 | 7.7399 |
| Woodie | 7.5978 | 7.6325 | 7.6779 | 7.7126 | 7.7580 | 7.7927 | 7.8381 |
| Fibonacci | 7.6308 | 7.6614 | 7.6803 | 7.7109 | 7.7415 | 7.7604 | 7.7910 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.1795 | 7.3232 | 7.5105 | 7.6542 | 7.8415 | 7.9852 | 8.1725 |
| Camarilla | 7.6068 | 7.6371 | 7.6675 | 7.6978 | 7.7281 | 7.7585 | 7.7888 |
| Woodie | 7.2013 | 7.3341 | 7.5323 | 7.6651 | 7.8633 | 7.9961 | 8.1943 |
| Fibonacci | 7.3232 | 7.4496 | 7.5278 | 7.6542 | 7.7806 | 7.8588 | 7.9852 |
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): | 68.55 | |
| MACD (12,26,9): | 0.0109 | |
| Directional Movement: | 15.8335 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 7.7906 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.7708 | |
| Elder Ray (13): | 0.0123 | |
| Super Trend (3,10): | 7.7598 | |
| Zig ZAG (10): | 7.7940 | |
| VORTEX (21): | 1.2219 | |
| Stochastique (14,3,5): | 84.99 | |
| TEMA (21): | 7.7970 | |
| Williams %R (14): | -10.69 | |
| Chande Momentum Oscillator (20): | 0.0159 | |
| Repulse (5,40,3): | 0.1987 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0187 | |
| Courbe Coppock: | 0.49 |
| MA7: | 7.7406 | |
| MA20: | 7.7143 | |
| MA50: | 7.6317 | |
| MA100: | 7.4029 | |
| MAexp7: | 7.7893 | |
| MAexp20: | 7.7769 | |
| MAexp50: | 7.7622 | |
| MAexp100: | 7.7487 | |
| Price / MA7: | +0.71% | |
| Price / MA20: | +1.05% | |
| Price / MA50: | +2.14% | |
| Price / MA100: | +5.30% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.24% | |
| Price / MAexp50: | +0.43% | |
| Price / MAexp100: | +0.60% |
Quotes :
2020-07-09 07:00:32
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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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