EUR/USD - 1H - Technical analysis published on 02/07/2023 (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 : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 1.0773 USD
My targets
1.0709 USD (-0.0016)
1.0638 USD (-0.0087)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/USD. As long as you are under the resistance located at 1.0773 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 1.0709 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 1.0638 USD as an objective. Crossing it would then enable sellers to target 1.0521 USD. If the resistance 1.0773 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.1
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Additional analysis
Quotes
EUR/USD rating 1.0725 USD. On the day, this instrument lost -0.04% and was between 1.0669 USD and 1.0767 USD. This implies that the price is at +0.52% from its lowest and at -0.39% from its highest.1.0669
1.0767
1.0725
Here is a more detailed summary of the historical variations registered by EUR/USD:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/USD in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently positioned bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
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 | 1.0521 | 1.0638 | 1.0709 | 1.0725 | 1.0773 | 1.0800 | 1.0852 |
| Change (%) | -1.90% | -0.81% | -0.15% | - | +0.45% | +0.70% | +1.18% |
| Change | -0.0204 | -0.0087 | -0.0016 | - | +0.0048 | +0.0075 | +0.0127 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0602 | 1.0656 | 1.0692 | 1.0746 | 1.0782 | 1.0836 | 1.0872 |
| Camarilla | 1.0704 | 1.0713 | 1.0721 | 1.0729 | 1.0737 | 1.0746 | 1.0754 |
| Woodie | 1.0594 | 1.0652 | 1.0684 | 1.0742 | 1.0774 | 1.0832 | 1.0864 |
| Fibonacci | 1.0656 | 1.0690 | 1.0711 | 1.0746 | 1.0780 | 1.0801 | 1.0836 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0473 | 1.0632 | 1.0714 | 1.0873 | 1.0955 | 1.1114 | 1.1196 |
| Camarilla | 1.0729 | 1.0751 | 1.0773 | 1.0795 | 1.0817 | 1.0839 | 1.0861 |
| Woodie | 1.0434 | 1.0613 | 1.0675 | 1.0854 | 1.0916 | 1.1095 | 1.1157 |
| Fibonacci | 1.0632 | 1.0724 | 1.0781 | 1.0873 | 1.0965 | 1.1022 | 1.1114 |
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): | 49.15 | |
| MACD (12,26,9): | -0.0007 | |
| Directional Movement: | 2.6286 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 1.0709 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0678 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 1.0657 | |
| Zig ZAG (10): | 1.0723 | |
| VORTEX (21): | 0.9765 | |
| Stochastique (14,3,5): | 56.80 | |
| TEMA (21): | 1.0719 | |
| Williams %R (14): | -44.90 | |
| Chande Momentum Oscillator (20): | 0.0010 | |
| Repulse (5,40,3): | 0.0700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0152 | |
| Courbe Coppock: | 0.12 |
| MA7: | 1.0839 | |
| MA20: | 1.0844 | |
| MA50: | 1.0696 | |
| MA100: | 1.0337 | |
| MAexp7: | 1.0720 | |
| MAexp20: | 1.0721 | |
| MAexp50: | 1.0752 | |
| MAexp100: | 1.0795 | |
| Price / MA7: | -1.05% | |
| Price / MA20: | -1.10% | |
| Price / MA50: | +0.27% | |
| Price / MA100: | +3.75% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.25% | |
| Price / MAexp100: | -0.65% |
Quotes :
-
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 Technical Analysis for February 08, 2023 by FXEmpire
-
EUR/USD Forecast February 7, 2023
-
EUR/USD Technical Analysis for February 07, 2023 by FXEmpire
-
Technical Analysis: 06/02/2023 - EURUSD maintains bullish trend despite post-NFP crash
-
EUR/USD Forecast February 6, 2023
This member declared not having a position on this financial instrument or a related financial instrument.
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