EUR/USD - 1H - Technical analysis published on 01/22/2020 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.1075 USD
My targets
1.1118 USD (+0.0024)
1.1147 USD (+0.0053)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for EUR/USD as long as the price remains well above 1.1075 USD. The buyers” bullish objective is set at 1.1118 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.1147 USD. If there is any crossing, the next objective would be the resistance located at 1.1176 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 1.1118 USD. On this resistance, against the trend traders who would like to go short on EUR/USD with a bearish signal from their trading strategy, should not hesitate to act.
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
3
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This analysis was given by Edd8011. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/USD rating 1.1094 USD. The price registered a decrease of +0.08% on the session with the lowest point at 1.1070 USD and the highest point at 1.1098 USD. The deviation from the price is +0.22% for the low point and -0.04% for the high point.1.1070
1.1098
1.1094
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/USD chart shows a slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0995 | 1.1075 | 1.1085 | 1.1094 | 1.1118 | 1.1147 | 1.1176 |
| Change (%) | -0.89% | -0.17% | -0.08% | - | +0.22% | +0.48% | +0.74% |
| Change | -0.0099 | -0.0019 | -0.0009 | - | +0.0024 | +0.0053 | +0.0082 |
| Level | Major | Major | Intermediate | - | Intermediate | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1033 | 1.1056 | 1.1071 | 1.1094 | 1.1109 | 1.1132 | 1.1147 |
| Camarilla | 1.1075 | 1.1078 | 1.1082 | 1.1085 | 1.1089 | 1.1092 | 1.1096 |
| Woodie | 1.1028 | 1.1054 | 1.1066 | 1.1092 | 1.1104 | 1.1130 | 1.1142 |
| Fibonacci | 1.1056 | 1.1071 | 1.1080 | 1.1094 | 1.1109 | 1.1118 | 1.1132 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0973 | 1.1030 | 1.1060 | 1.1117 | 1.1147 | 1.1204 | 1.1234 |
| Camarilla | 1.1067 | 1.1075 | 1.1083 | 1.1091 | 1.1099 | 1.1107 | 1.1115 |
| Woodie | 1.0961 | 1.1023 | 1.1048 | 1.1110 | 1.1135 | 1.1197 | 1.1222 |
| Fibonacci | 1.1030 | 1.1063 | 1.1083 | 1.1117 | 1.1150 | 1.1170 | 1.1204 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0828 | 1.0916 | 1.1064 | 1.1152 | 1.1300 | 1.1388 | 1.1536 |
| Camarilla | 1.1148 | 1.1170 | 1.1191 | 1.1213 | 1.1235 | 1.1256 | 1.1278 |
| Woodie | 1.0859 | 1.0931 | 1.1095 | 1.1167 | 1.1331 | 1.1403 | 1.1567 |
| Fibonacci | 1.0916 | 1.1006 | 1.1062 | 1.1152 | 1.1242 | 1.1298 | 1.1388 |
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): | 55.63 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | 6.1968 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 1.1087 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.1070 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 1.1100 | |
| Zig ZAG (10): | 1.1094 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 83.33 | |
| TEMA (21): | 1.1090 | |
| Williams %R (14): | -17.86 | |
| Chande Momentum Oscillator (20): | 0.0007 | |
| Repulse (5,40,3): | 0.0437 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0017 | |
| Courbe Coppock: | 0.11 |
| MA7: | 1.1112 | |
| MA20: | 1.1142 | |
| MA50: | 1.1104 | |
| MA100: | 1.1073 | |
| MAexp7: | 1.1090 | |
| MAexp20: | 1.1087 | |
| MAexp50: | 1.1090 | |
| MAexp100: | 1.1098 | |
| Price / MA7: | -0.16% | |
| Price / MA20: | -0.43% | |
| Price / MA50: | -0.09% | |
| Price / MA100: | +0.19% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | +0.04% | |
| Price / MAexp100: | -0.04% |
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 and GBP/USD Forecast January 23, 2020
-
EUR/USD Technical Analysis for January 23, 2020 by FXEmpire
-
EUR/USD and GBP/USD Forecast January 22, 2020
-
EUR/USD Technical Analysis for January 22, 2020 by FXEmpire
-
EUR/USD and GBP/USD Forecast January 21, 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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