EUR/TRY - 1H - Technical analysis published on 01/20/2020 (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 bullish
De fond:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 6.5369 TRY
My targets
6.5739 TRY (+0.0163)
6.6500 TRY (+0.0924)
My analysis
The bullish trend is currently very strong on EUR/TRY. As long as the price remains above the support at 6.5369 TRY, you could try to benefit from the boom. The first bullish objective is located at 6.5739 TRY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 6.6500 TRY as an objective. Crossing it would then enable buyers to target 6.6842 TRY. 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
7.7
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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
EUR/TRY rating 6.5576 TRY. The price registered an increase of +0.44% on the session and was between 6.5310 TRY and 6.5623 TRY. This implies that the price is at +0.41% from its lowest and at -0.07% from its highest.6.5310
6.5623
6.5576
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 strongly bullish trend. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
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 3
Type : Neutral
Timeframe : 1 hour
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:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.4704 | 6.5162 | 6.5369 | 6.5576 | 6.5739 | 6.6500 | 6.6842 |
| Change (%) | -1.33% | -0.63% | -0.32% | - | +0.25% | +1.41% | +1.93% |
| Change | -0.0872 | -0.0414 | -0.0207 | - | +0.0163 | +0.0924 | +0.1266 |
| Level | Intermediate | Intermediate | Major | - | Major | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.4696 | 6.4932 | 6.5110 | 6.5346 | 6.5524 | 6.5760 | 6.5938 |
| Camarilla | 6.5173 | 6.5211 | 6.5249 | 6.5287 | 6.5325 | 6.5363 | 6.5401 |
| Woodie | 6.4666 | 6.4918 | 6.5080 | 6.5332 | 6.5494 | 6.5746 | 6.5908 |
| Fibonacci | 6.4932 | 6.5091 | 6.5188 | 6.5346 | 6.5505 | 6.5602 | 6.5760 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.4290 | 6.4674 | 6.4980 | 6.5364 | 6.5670 | 6.6054 | 6.6360 |
| Camarilla | 6.5097 | 6.5161 | 6.5224 | 6.5287 | 6.5350 | 6.5414 | 6.5477 |
| Woodie | 6.4252 | 6.4655 | 6.4942 | 6.5345 | 6.5632 | 6.6035 | 6.6322 |
| Fibonacci | 6.4674 | 6.4937 | 6.5100 | 6.5364 | 6.5627 | 6.5790 | 6.6054 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.0632 | 6.1918 | 6.4318 | 6.5604 | 6.8004 | 6.9290 | 7.1690 |
| Camarilla | 6.5703 | 6.6041 | 6.6379 | 6.6717 | 6.7055 | 6.7393 | 6.7731 |
| Woodie | 6.1188 | 6.2197 | 6.4874 | 6.5883 | 6.8560 | 6.9569 | 7.2246 |
| Fibonacci | 6.1918 | 6.3326 | 6.4196 | 6.5604 | 6.7012 | 6.7882 | 6.9290 |
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): | 62.54 | |
| MACD (12,26,9): | 0.0062 | |
| Directional Movement: | 11.3548 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 6.5557 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.5421 | |
| Elder Ray (13): | 0.0062 | |
| Super Trend (3,10): | 6.5319 | |
| Zig ZAG (10): | 6.5578 | |
| VORTEX (21): | 1.1691 | |
| Stochastique (14,3,5): | 83.85 | |
| TEMA (21): | 6.5607 | |
| Williams %R (14): | -16.86 | |
| Chande Momentum Oscillator (20): | 0.0164 | |
| Repulse (5,40,3): | 0.0222 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0117 | |
| Courbe Coppock: | 0.56 |
| MA7: | 6.5408 | |
| MA20: | 6.5985 | |
| MA50: | 6.4839 | |
| MA100: | 6.4173 | |
| MAexp7: | 6.5557 | |
| MAexp20: | 6.5480 | |
| MAexp50: | 6.5422 | |
| MAexp100: | 6.5435 | |
| Price / MA7: | +0.26% | |
| Price / MA20: | -0.62% | |
| Price / MA50: | +1.14% | |
| Price / MA100: | +2.19% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.15% | |
| Price / MAexp50: | +0.24% | |
| Price / MAexp100: | +0.22% |
This member declared not having a position on this financial instrument or a related financial instrument.
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