EUR/USD - 1H - Technical analysis published on 04/16/2024 (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
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
6%
28%
My opinion
Bearish under 1.0665 USD
My targets
1.0564 USD (-0.0065)
1.0469 USD (-0.0160)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 1.0665 USD remains possible. It is advisable to trade EUR/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 1.0665 USD. The next bearish objective for sellers is set at 1.0564 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.0469 USD. In case of crossing, the next objective would be the support located at 1.0129 USD. PS: if there is a bullish break in the resistance located at 1.0665 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
0
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/USD rating 1.0629 USD. On the day, this instrument gained +0.04% and was traded between 1.0602 USD and 1.0654 USD over the period. The price is currently at +0.25% from its lowest and -0.23% from its highest.1.0602
1.0654
1.0629
So that you have an overall view of the price change, here is a table showing the variations over several periods:
![Central Records Central Records](/medias/screeners/logo/CentralRecords.png)
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/USD indicates that the overall trend is bearish. 64.29% 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
![Central Indicators Central Indicators](/medias/screeners/logo/CentralIndicators.png)
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
![Central Indicators Central Indicators](/medias/screeners/logo/CentralIndicators.png)
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
![Central Indicators Central Indicators](/medias/screeners/logo/CentralIndicators.png)
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
![Central Patterns Central Patterns](/medias/screeners/logo/CentralPatterns.png)
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 1.0129 | 1.0469 | 1.0564 | 1.0629 | 1.0638 | 1.0665 | 1.0708 |
Change (%) | -4.70% | -1.51% | -0.61% | - | +0.08% | +0.34% | +0.74% |
Change | -0.0500 | -0.0160 | -0.0065 | - | +0.0009 | +0.0036 | +0.0079 |
Level | Minor | Major | Minor | - | Major | Intermediate | Intermediate |
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 | 1.0563 | 1.0592 | 1.0608 | 1.0637 | 1.0653 | 1.0682 | 1.0698 |
Camarilla | 1.0613 | 1.0617 | 1.0621 | 1.0625 | 1.0629 | 1.0633 | 1.0637 |
Woodie | 1.0558 | 1.0589 | 1.0603 | 1.0634 | 1.0648 | 1.0679 | 1.0693 |
Fibonacci | 1.0592 | 1.0609 | 1.0620 | 1.0637 | 1.0654 | 1.0665 | 1.0682 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.0285 | 1.0454 | 1.0548 | 1.0717 | 1.0811 | 1.0980 | 1.1074 |
Camarilla | 1.0571 | 1.0595 | 1.0619 | 1.0643 | 1.0667 | 1.0691 | 1.0715 |
Woodie | 1.0249 | 1.0435 | 1.0512 | 1.0698 | 1.0775 | 1.0961 | 1.1038 |
Fibonacci | 1.0454 | 1.0554 | 1.0616 | 1.0717 | 1.0817 | 1.0879 | 1.0980 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.0498 | 1.0633 | 1.0712 | 1.0847 | 1.0926 | 1.1061 | 1.1140 |
Camarilla | 1.0733 | 1.0753 | 1.0772 | 1.0792 | 1.0812 | 1.0831 | 1.0851 |
Woodie | 1.0471 | 1.0619 | 1.0685 | 1.0833 | 1.0899 | 1.1047 | 1.1113 |
Fibonacci | 1.0633 | 1.0714 | 1.0765 | 1.0847 | 1.0928 | 1.0979 | 1.1061 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 55.88 | |
MACD (12,26,9): | -0.0002 | |
Directional Movement: | 7.6983 | |
AROON (14): | 42.8571 | |
DEMA (21): | 1.0623 | |
Parabolic SAR (0,02-0,02-0,2): | 1.0611 | |
Elder Ray (13): | 0.0009 | |
Super Trend (3,10): | 1.0606 | |
Zig ZAG (10): | 1.0638 | |
VORTEX (21): | 0.9955 | |
Stochastique (14,3,5): | 77.17 | |
TEMA (21): | 1.0631 | |
Williams %R (14): | -30.77 | |
Chande Momentum Oscillator (20): | 0.0020 | |
Repulse (5,40,3): | 0.0186 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.0085 | |
Courbe Coppock: | 0.12 |
MA7: | 1.0727 | |
MA20: | 1.0789 | |
MA50: | 1.0818 | |
MA100: | 1.0860 | |
MAexp7: | 1.0630 | |
MAexp20: | 1.0628 | |
MAexp50: | 1.0645 | |
MAexp100: | 1.0682 | |
Price / MA7: | -0.91% | |
Price / MA20: | -1.48% | |
Price / MA50: | -1.75% | |
Price / MA100: | -2.13% | |
Price / MAexp7: | -0.01% | |
Price / MAexp20: | +0.01% | |
Price / MAexp50: | -0.15% | |
Price / MAexp100: | -0.50% |
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 Daily Forecast and Technical Analysis for April 16, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for April 15, 2024, by Chris Lewis for FX Empire
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EUR/USD Long Term Forecast and Technical Analysis for April 12, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for April 12, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for April 11, 2024, by Chris Lewis for FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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