EUR/USD - Weekly - Technical analysis published on 05/04/2021 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Weekly
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 1.1548 USD
My targets
1.2338 USD (+0.0291)
1.2492 USD (+0.0445)
My analysis
The basic bullish trend is very strong on EUR/USD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 1.1548 USD. Crossing the first resistance at 1.2338 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 1.2492 USD as an objective. Crossing it would then enable buyers to target 1.3929 USD. Caution, a return to below 1.1548 USD would be a sign of a consolidation phase in the short-term basic trend. 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
6.8
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Additional analysis
Quotes
The EUR/USD price is 1.2047 USD. Over 5 days, this instrument lost -0.36% and has been traded over the last 5 days between 1.2013 USD and 1.2127 USD. This implies that the 5 day price is +0.28% from its lowest point and -0.66% from its highest point.1.2013
1.2127
1.2047
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EUR/USD:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of EUR/USD indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Weekly
In fact, 10 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Weekly
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 1.1216 | 1.1548 | 1.1922 | 1.2047 | 1.2177 | 1.2338 | 1.2492 |
Change (%) | -6.90% | -4.14% | -1.04% | - | +1.08% | +2.42% | +3.69% |
Change | -0.0831 | -0.0499 | -0.0125 | - | +0.0130 | +0.0291 | +0.0445 |
Level | Intermediate | Intermediate | Major | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.1959 | 1.1986 | 1.2022 | 1.2049 | 1.2085 | 1.2112 | 1.2148 |
Camarilla | 1.2041 | 1.2047 | 1.2052 | 1.2058 | 1.2064 | 1.2070 | 1.2075 |
Woodie | 1.1964 | 1.1988 | 1.2027 | 1.2051 | 1.2090 | 1.2114 | 1.2153 |
Fibonacci | 1.1986 | 1.2010 | 1.2025 | 1.2049 | 1.2073 | 1.2088 | 1.2112 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.1840 | 1.1928 | 1.1974 | 1.2062 | 1.2108 | 1.2196 | 1.2242 |
Camarilla | 1.1983 | 1.1995 | 1.2008 | 1.2020 | 1.2032 | 1.2045 | 1.2057 |
Woodie | 1.1819 | 1.1918 | 1.1953 | 1.2052 | 1.2087 | 1.2186 | 1.2221 |
Fibonacci | 1.1928 | 1.1979 | 1.2011 | 1.2062 | 1.2113 | 1.2145 | 1.2196 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.1335 | 1.1524 | 1.1772 | 1.1961 | 1.2209 | 1.2398 | 1.2646 |
Camarilla | 1.1900 | 1.1940 | 1.1980 | 1.2020 | 1.2060 | 1.2100 | 1.2140 |
Woodie | 1.1365 | 1.1539 | 1.1802 | 1.1976 | 1.2239 | 1.2413 | 1.2676 |
Fibonacci | 1.1524 | 1.1691 | 1.1794 | 1.1961 | 1.2128 | 1.2231 | 1.2398 |
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): | 54.73 | |
MACD (12,26,9): | 0.0037 | |
Directional Movement: | 7.9240 | |
AROON (14): | -35.7143 | |
DEMA (21): | 1.2045 | |
Parabolic SAR (0,02-0,02-0,2): | 1.1729 | |
Elder Ray (13): | 0.0055 | |
Super Trend (3,10): | 1.2216 | |
Zig ZAG (10): | 1.2047 | |
VORTEX (21): | 0.9844 | |
Stochastique (14,3,5): | 65.06 | |
TEMA (21): | 1.1971 | |
Williams %R (14): | -36.36 | |
Chande Momentum Oscillator (20): | -0.0073 | |
Repulse (5,40,3): | 0.5135 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0635 | |
Courbe Coppock: | 2.92 |
MA7: | 1.2079 | |
MA20: | 1.2013 | |
MA50: | 1.1951 | |
MA100: | 1.2053 | |
MAexp7: | 1.1996 | |
MAexp20: | 1.1978 | |
MAexp50: | 1.1813 | |
MAexp100: | 1.1630 | |
Price / MA7: | -0.26% | |
Price / MA20: | +0.28% | |
Price / MA50: | +0.80% | |
Price / MA100: | -0.05% | |
Price / MAexp7: | +0.43% | |
Price / MAexp20: | +0.58% | |
Price / MAexp50: | +1.98% | |
Price / MAexp100: | +3.59% |
Quotes :
-
Real time data
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Forex
News
The last news published on EUR/USD at the time of the generation of this analysis was as follows:
- EUR/USD and GBP/USD Forecast May 4, 2021
- EUR/USD Technical Analysis for May 4, 2021 by FXEmpire
- EUR/USD Daily Forecast - Support At The 20 EMA Stays Strong
- EURUSD Posts Biggest Daily Drop in a Year - Can the Dollar Carry That Trend?
- EUR/USD and GBP/USD Forecast May 3, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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