EUR/TRY - 1H - Technical analysis published on 11/05/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 30.2581 TRY
My targets
30.5239 TRY (+0.0448)
My analysis
The bullish trend is currently very strong on EUR/TRY. As long as the price remains above the support at 30.2581 TRY, you could try to benefit from the boom. The first bullish objective is located at 30.5239 TRY. The bullish momentum would be boosted by a break in this resistance. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
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
8.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/TRY rating 30.4791 TRY. On the day, this instrument gained +0.18% and was traded between 30.4147 TRY and 30.7178 TRY over the period. The price is currently at +0.21% from its lowest and -0.78% from its highest.30.4147
30.7178
30.4791
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
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. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:
Bullish doji star
Type : Bullish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 29.9561 | 30.1297 | 30.2581 | 30.4791 | 30.5239 |
| Change (%) | -1.72% | -1.15% | -0.73% | - | +0.15% |
| Change | -0.5230 | -0.3494 | -0.2210 | - | +0.0448 |
| Level | Minor | Minor | Major | - | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.7403 | 29.9167 | 30.1710 | 30.3474 | 30.6017 | 30.7781 | 31.0324 |
| Camarilla | 30.3068 | 30.3462 | 30.3857 | 30.4252 | 30.4647 | 30.5042 | 30.5436 |
| Woodie | 29.7792 | 29.9362 | 30.2099 | 30.3669 | 30.6406 | 30.7976 | 31.0713 |
| Fibonacci | 29.9167 | 30.0813 | 30.1829 | 30.3474 | 30.5120 | 30.6136 | 30.7781 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.1513 | 29.4455 | 29.9354 | 30.2296 | 30.7195 | 31.0137 | 31.5036 |
| Camarilla | 30.2096 | 30.2815 | 30.3533 | 30.4252 | 30.4971 | 30.5690 | 30.6408 |
| Woodie | 29.2491 | 29.4944 | 30.0332 | 30.2785 | 30.8173 | 31.0626 | 31.6014 |
| Fibonacci | 29.4455 | 29.7451 | 29.9301 | 30.2296 | 30.5292 | 30.7142 | 31.0137 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.4130 | 28.0540 | 28.9984 | 29.6394 | 30.5838 | 31.2248 | 32.1692 |
| Camarilla | 29.5068 | 29.6521 | 29.7975 | 29.9428 | 30.0881 | 30.2335 | 30.3788 |
| Woodie | 27.5647 | 28.1299 | 29.1501 | 29.7153 | 30.7355 | 31.3007 | 32.3209 |
| Fibonacci | 28.0540 | 28.6596 | 29.0338 | 29.6394 | 30.2450 | 30.6192 | 31.2248 |
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): | 65.50 | |
| MACD (12,26,9): | 0.0951 | |
| Directional Movement: | 26.5774 | |
| AROON (14): | 71.4286 | |
| DEMA (21): | 30.4757 | |
| Parabolic SAR (0,02-0,02-0,2): | 30.5239 | |
| Elder Ray (13): | 0.0213 | |
| Super Trend (3,10): | 30.2753 | |
| Zig ZAG (10): | 30.4252 | |
| VORTEX (21): | 1.1951 | |
| Stochastique (14,3,5): | 79.66 | |
| TEMA (21): | 30.5107 | |
| Williams %R (14): | -27.10 | |
| Chande Momentum Oscillator (20): | 0.1841 | |
| Repulse (5,40,3): | 0.0011 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0428 | |
| Courbe Coppock: | 1.97 |
| MA7: | 30.0052 | |
| MA20: | 29.7024 | |
| MA50: | 29.1985 | |
| MA100: | 29.0886 | |
| MAexp7: | 30.4465 | |
| MAexp20: | 30.3532 | |
| MAexp50: | 30.2137 | |
| MAexp100: | 30.0980 | |
| Price / MA7: | +1.58% | |
| Price / MA20: | +2.61% | |
| Price / MA50: | +4.39% | |
| Price / MA100: | +4.78% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.41% | |
| Price / MAexp50: | +0.88% | |
| Price / MAexp100: | +1.27% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on EUR/TRY. At the time of publication of this analysis, the latest news was as follows:
Weekly Technical Analysis: 15/05/2023 - EURUSD, EURTRY, USDJPYThis member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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