EUR/USD - Daily - Technical analysis published on 02/01/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
39%
17%
44%
My opinion
Bullish above 1.0773 USD
My targets
1.1205 USD (+0.0301)
1.1561 USD (+0.0657)
My analysis
The bullish trend is currently very strong on EUR/USD. As long as the price remains above the support at 1.0773 USD, you could try to benefit from the boom. The first bullish objective is located at 1.1205 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.1561 USD as an objective. Crossing it would then enable buyers to target 1.1950 USD. 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
6.8
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This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/USD rating 1.0904 USD. The price registered an increase of +0.41% on the session and was traded between 1.0852 USD and 1.0908 USD over the period. The price is currently at +0.48% from its lowest and -0.04% from its highest.1.0852
1.0908
1.0904
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 (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of EUR/USD indicates that the overall trend is strongly bullish. 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. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : Daily
In fact, only 7 technical indicators out of 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
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 | 1.0638 | 1.0773 | 1.0899 | 1.0904 | 1.1561 | 1.1950 | 1.2486 |
| Change (%) | -2.44% | -1.20% | -0.05% | - | +6.03% | +9.59% | +14.51% |
| Change | -0.0266 | -0.0131 | -0.0005 | - | +0.0657 | +0.1046 | +0.1582 |
| Level | Major | Minor | Major | - | Intermediate | Minor | Major |
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 | 1.0743 | 1.0773 | 1.0816 | 1.0846 | 1.0889 | 1.0919 | 1.0962 |
| Camarilla | 1.0840 | 1.0847 | 1.0853 | 1.0860 | 1.0867 | 1.0873 | 1.0880 |
| Woodie | 1.0751 | 1.0776 | 1.0824 | 1.0849 | 1.0897 | 1.0922 | 1.0970 |
| Fibonacci | 1.0773 | 1.0801 | 1.0818 | 1.0846 | 1.0874 | 1.0891 | 1.0919 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0731 | 1.0783 | 1.0826 | 1.0878 | 1.0921 | 1.0973 | 1.1016 |
| Camarilla | 1.0843 | 1.0852 | 1.0860 | 1.0869 | 1.0878 | 1.0886 | 1.0895 |
| Woodie | 1.0727 | 1.0781 | 1.0822 | 1.0876 | 1.0917 | 1.0971 | 1.1012 |
| Fibonacci | 1.0783 | 1.0819 | 1.0842 | 1.0878 | 1.0914 | 1.0937 | 1.0973 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0138 | 1.0311 | 1.0585 | 1.0758 | 1.1032 | 1.1205 | 1.1479 |
| Camarilla | 1.0737 | 1.0778 | 1.0819 | 1.0860 | 1.0901 | 1.0942 | 1.0983 |
| Woodie | 1.0190 | 1.0336 | 1.0637 | 1.0783 | 1.1084 | 1.1230 | 1.1531 |
| Fibonacci | 1.0311 | 1.0481 | 1.0587 | 1.0758 | 1.0928 | 1.1034 | 1.1205 |
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): | 63.68 | |
| MACD (12,26,9): | 0.0074 | |
| Directional Movement: | 10.8776 | |
| AROON (14): | 71.4286 | |
| DEMA (21): | 1.0913 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0927 | |
| Elder Ray (13): | 0.0032 | |
| Super Trend (3,10): | 1.0646 | |
| Zig ZAG (10): | 1.0906 | |
| VORTEX (21): | 1.1872 | |
| Stochastique (14,3,5): | 68.27 | |
| TEMA (21): | 1.0906 | |
| Williams %R (14): | -21.34 | |
| Chande Momentum Oscillator (20): | 0.0065 | |
| Repulse (5,40,3): | 0.6513 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1059 | |
| Courbe Coppock: | 2.52 |
| MA7: | 1.0884 | |
| MA20: | 1.0812 | |
| MA50: | 1.0660 | |
| MA100: | 1.0304 | |
| MAexp7: | 1.0873 | |
| MAexp20: | 1.0812 | |
| MAexp50: | 1.0648 | |
| MAexp100: | 1.0489 | |
| Price / MA7: | +0.18% | |
| Price / MA20: | +0.85% | |
| Price / MA50: | +2.29% | |
| Price / MA100: | +5.82% | |
| Price / MAexp7: | +0.29% | |
| Price / MAexp20: | +0.86% | |
| Price / MAexp50: | +2.41% | |
| Price / MAexp100: | +3.97% |
Quotes :
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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 Technical Analysis for February 01, 2023 by FXEmpire
-
EUR/USD Forecast January 31, 2023
-
EUR/USD Technical Analysis for January 31, 2023 by FXEmpire
-
Technical Analysis: 30/01/2023 - EURUSD weakens after jumping above 1.0900
-
EUR/USD Forecast January 30, 2023
This member declared not having a position on this financial instrument or a related financial instrument.
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