EUR/USD - Daily - Technical analysis published on 06/06/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.1170 USD
My targets
1.1401 USD (+0.0110)
1.1561 USD (+0.0270)
My analysis
EUR/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.1170 USD. The next resistance located at 1.1401 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.1561 USD. After this resistance, buyers could then target 1.1781 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
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This analysis was given by Picoul. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/USD price is 1.1291 USD. The price registered a decrease of -0.40% on the session and was between 1.1278 USD and 1.1384 USD. This implies that the price is at +0.12% from its lowest and at -0.82% from its highest.1.1278
1.1384
1.1291
A study of price movements over other periods shows the following variations:
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 Daily of this EUR/USD chart shows a strongly bullish trend. 85.71% 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 market scanner currently does not detect any result that concerns moving averages.
In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
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 | 1.0899 | 1.1006 | 1.1170 | 1.1291 | 1.1401 | 1.1561 | 1.1781 |
| Change (%) | -3.47% | -2.52% | -1.07% | - | +0.97% | +2.39% | +4.34% |
| Change | -0.0392 | -0.0285 | -0.0121 | - | +0.0110 | +0.0270 | +0.0490 |
| Level | Major | Major | Major | - | Major | Minor | Minor |
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 | 1.1066 | 1.1131 | 1.1233 | 1.1298 | 1.1400 | 1.1465 | 1.1567 |
| Camarilla | 1.1290 | 1.1305 | 1.1321 | 1.1336 | 1.1351 | 1.1367 | 1.1382 |
| Woodie | 1.1086 | 1.1140 | 1.1253 | 1.1307 | 1.1420 | 1.1474 | 1.1587 |
| Fibonacci | 1.1131 | 1.1195 | 1.1234 | 1.1298 | 1.1362 | 1.1401 | 1.1465 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0659 | 1.0765 | 1.0934 | 1.1040 | 1.1209 | 1.1315 | 1.1484 |
| Camarilla | 1.1028 | 1.1054 | 1.1079 | 1.1104 | 1.1129 | 1.1154 | 1.1180 |
| Woodie | 1.0692 | 1.0781 | 1.0967 | 1.1056 | 1.1242 | 1.1331 | 1.1517 |
| Fibonacci | 1.0765 | 1.0870 | 1.0935 | 1.1040 | 1.1145 | 1.1210 | 1.1315 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0486 | 1.0626 | 1.0865 | 1.1005 | 1.1244 | 1.1384 | 1.1623 |
| Camarilla | 1.1000 | 1.1035 | 1.1069 | 1.1104 | 1.1139 | 1.1174 | 1.1208 |
| Woodie | 1.0536 | 1.0651 | 1.0915 | 1.1030 | 1.1294 | 1.1409 | 1.1673 |
| Fibonacci | 1.0626 | 1.0771 | 1.0860 | 1.1005 | 1.1150 | 1.1239 | 1.1384 |
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): | 72.45 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | 30.0447 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.1171 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.1086 | |
| Elder Ray (13): | 0.0213 | |
| Super Trend (3,10): | 1.1061 | |
| Zig ZAG (10): | 1.1291 | |
| VORTEX (21): | 1.2953 | |
| Stochastique (14,3,5): | 90.79 | |
| TEMA (21): | 1.1258 | |
| Williams %R (14): | -18.09 | |
| Chande Momentum Oscillator (20): | 0.0311 | |
| Repulse (5,40,3): | 0.6971 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0774 | |
| Courbe Coppock: | 5.99 |
| MA7: | 1.1194 | |
| MA20: | 1.1001 | |
| MA50: | 1.0929 | |
| MA100: | 1.0964 | |
| MAexp7: | 1.1201 | |
| MAexp20: | 1.1059 | |
| MAexp50: | 1.0982 | |
| MAexp100: | 1.0983 | |
| Price / MA7: | +0.87% | |
| Price / MA20: | +2.64% | |
| Price / MA50: | +3.31% | |
| Price / MA100: | +2.98% | |
| Price / MAexp7: | +0.80% | |
| Price / MAexp20: | +2.10% | |
| Price / MAexp50: | +2.81% | |
| Price / MAexp100: | +2.80% |
Quotes :
2020-06-05 20:59:59
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Real time data
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Forex
News
Don"t forget to follow the news on EUR/USD. At the time of publication of this analysis, the latest news was as follows:
-
EUR/USD and GBP/USD Forecast June 8, 2020
-
EUR/USD Technical Analysis for the Week of June 8, 2020 by FXEmpire
-
EUR/USD Technical Analysis for June 8, 2020 by FXEmpire
-
EURUSD Price Rally Shifts from ECB to NFPs, Nasdaq Teeters at Record
-
EUR/USD and GBP/USD Forecast June 5, 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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