EUR/USD - 1H - Technical analysis published on 04/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
89%
6%
6%
My opinion
Bullish above 1.0638 USD
My targets
1.0708 USD (+0.0037)
1.0803 USD (+0.0132)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/USD as long as the price remains well above 1.0638 USD. The buyers' bullish objective is set at 1.0708 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.0803 USD. If there is any crossing, the next objective would be the resistance located at 1.0848 USD.
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
6.3
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/USD price is 1.0671 USD. The price has increased by +0.47% since the last closing with the lowest point at 1.0606 USD and the highest point at 1.0678 USD. The deviation from the price is +0.61% for the low point and -0.07% for the high point.1.0606
1.0678
1.0671
Here is a more detailed summary of the historical variations registered by EUR/USD:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
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 this 1H chart of EUR/USD indicates that the overall trend is bullish. 67.86% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0602 | 1.0638 | 1.0665 | 1.0671 | 1.0708 | 1.0803 | 1.0848 |
| Change (%) | -0.65% | -0.31% | -0.06% | - | +0.35% | +1.24% | +1.66% |
| Change | -0.0069 | -0.0033 | -0.0006 | - | +0.0037 | +0.0132 | +0.0177 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Intermediate | 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 | 1.0544 | 1.0572 | 1.0597 | 1.0625 | 1.0650 | 1.0678 | 1.0703 |
| Camarilla | 1.0606 | 1.0611 | 1.0616 | 1.0621 | 1.0626 | 1.0631 | 1.0636 |
| Woodie | 1.0542 | 1.0571 | 1.0595 | 1.0624 | 1.0648 | 1.0677 | 1.0701 |
| Fibonacci | 1.0572 | 1.0593 | 1.0605 | 1.0625 | 1.0646 | 1.0658 | 1.0678 |
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): | 68.09 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 18.4053 | |
| AROON (14): | 85.7143 | |
| DEMA (21): | 1.0650 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0626 | |
| Elder Ray (13): | 0.0027 | |
| Super Trend (3,10): | 1.0628 | |
| Zig ZAG (10): | 1.0673 | |
| VORTEX (21): | 1.1847 | |
| Stochastique (14,3,5): | 92.23 | |
| TEMA (21): | 1.0658 | |
| Williams %R (14): | -9.72 | |
| Chande Momentum Oscillator (20): | 0.0036 | |
| Repulse (5,40,3): | 0.2041 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0060 | |
| Courbe Coppock: | 0.49 |
| MA7: | 1.0698 | |
| MA20: | 1.0775 | |
| MA50: | 1.0816 | |
| MA100: | 1.0857 | |
| MAexp7: | 1.0654 | |
| MAexp20: | 1.0641 | |
| MAexp50: | 1.0639 | |
| MAexp100: | 1.0661 | |
| Price / MA7: | -0.25% | |
| Price / MA20: | -0.97% | |
| Price / MA50: | -1.34% | |
| Price / MA100: | -1.71% | |
| Price / MAexp7: | +0.16% | |
| Price / MAexp20: | +0.28% | |
| Price / MAexp50: | +0.30% | |
| Price / MAexp100: | +0.09% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on EUR/USD at the time of the analysis were as follows:
-
EUR/USD Daily Forecast and Technical Analysis for April 17, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for April 16, 2024, by Chris Lewis for FX Empire
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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
-
EUR/USD Daily Forecast and Technical Analysis for April 12, 2024, by Chris Lewis for FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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