EUR/TRY - 1H - Technical analysis published on 11/13/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 6.3583 TRY
My targets
6.3486 TRY (-0.03%)
6.3342 TRY (-0.26%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EUR/TRY as long as the price remains well below 6.3583 TRY. The sellers” bearish objective is set at 6.3486 TRY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 6.3342 TRY. In case of crossing, the next objective would be the support located at 6.3196 TRY. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
FORCE
0
10
7.1
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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 price is 6.3506 TRY. On the day, this instrument lost -0.12% and was traded between 6.3495 TRY and 6.3648 TRY over the period. The price is currently at +0.02% from its lowest and -0.22% from its highest.6.3495
6.3648
6.3506
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 1H of this EUR/TRY chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
The probability of a further decline is moderate given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.3196 | 6.3342 | 6.3486 | 6.3506 | 6.3583 | 6.3648 | 6.3793 |
| Change (%) | -0.49% | -0.26% | -0.03% | - | +0.12% | +0.22% | +0.45% |
| Change | -0.0310 | -0.0164 | -0.0020 | - | +0.0077 | +0.0142 | +0.0287 |
| Level | Minor | Intermediate | Major | - | Minor | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.3139 | 6.3312 | 6.3447 | 6.3620 | 6.3755 | 6.3928 | 6.4063 |
| Camarilla | 6.3497 | 6.3526 | 6.3554 | 6.3582 | 6.3610 | 6.3639 | 6.3667 |
| Woodie | 6.3120 | 6.3303 | 6.3428 | 6.3611 | 6.3736 | 6.3919 | 6.4044 |
| Fibonacci | 6.3312 | 6.3430 | 6.3502 | 6.3620 | 6.3738 | 6.3810 | 6.3928 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.2607 | 6.2975 | 6.3256 | 6.3624 | 6.3905 | 6.4273 | 6.4554 |
| Camarilla | 6.3360 | 6.3419 | 6.3479 | 6.3538 | 6.3598 | 6.3657 | 6.3717 |
| Woodie | 6.2565 | 6.2953 | 6.3214 | 6.3602 | 6.3863 | 6.4251 | 6.4512 |
| Fibonacci | 6.2975 | 6.3223 | 6.3376 | 6.3624 | 6.3872 | 6.4025 | 6.4273 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.6979 | 5.9235 | 6.1474 | 6.3730 | 6.5969 | 6.8225 | 7.0464 |
| Camarilla | 6.2477 | 6.2889 | 6.3301 | 6.3713 | 6.4125 | 6.4537 | 6.4949 |
| Woodie | 5.6971 | 5.9231 | 6.1466 | 6.3726 | 6.5961 | 6.8221 | 7.0456 |
| Fibonacci | 5.9235 | 6.0952 | 6.2013 | 6.3730 | 6.5447 | 6.6508 | 6.8225 |
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): | 40.59 | |
| MACD (12,26,9): | -0.0024 | |
| Directional Movement: | -8.5707 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 6.3556 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.3639 | |
| Elder Ray (13): | -0.0018 | |
| Super Trend (3,10): | 6.3513 | |
| Zig ZAG (10): | 6.3572 | |
| VORTEX (21): | 0.9803 | |
| Stochastique (14,3,5): | 47.46 | |
| TEMA (21): | 6.3562 | |
| Williams %R (14): | -65.00 | |
| Chande Momentum Oscillator (20): | -0.0039 | |
| Repulse (5,40,3): | -0.0148 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0056 | |
| Courbe Coppock: | 0.09 |
| MA7: | 6.3622 | |
| MA20: | 6.3942 | |
| MA50: | 6.3541 | |
| MA100: | 6.3435 | |
| MAexp7: | 6.3579 | |
| MAexp20: | 6.3589 | |
| MAexp50: | 6.3617 | |
| MAexp100: | 6.3634 | |
| Price / MA7: | -0.18% | |
| Price / MA20: | -0.68% | |
| Price / MA50: | -0.06% | |
| Price / MA100: | +0.11% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.13% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.20% |
This member declared not having a position on this financial instrument or a related financial instrument.
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