EGOLD - EGLD/USD - 1H - Technical analysis published on 02/27/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 58.94 USD
My targets
60.91 USD (+1.10%)
61.88 USD (+2.71%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EGOLD - EGLD/USD as long as the price remains well above 58.94 USD. The buyers' bullish objective is set at 60.91 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 61.88 USD. If there is any crossing, the next objective would be the resistance located at 64.70 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
4.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EGOLD - EGLD/USD price is 60.25 USD. The price is lower by -0.50% since the last closing with the lowest point at 58.43 USD and the highest point at 62.25 USD. The deviation from the price is +3.11% for the low point and -3.21% for the high point.58.43
62.25
60.25
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EGOLD - EGLD/USD chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 56.99 | 57.76 | 58.94 | 60.25 | 60.91 | 61.88 | 64.70 |
| Change (%) | -5.41% | -4.13% | -2.17% | - | +1.10% | +2.71% | +7.39% |
| Change | -3.26 | -2.49 | -1.31 | - | +0.66 | +1.63 | +4.45 |
| Level | Intermediate | Minor | Intermediate | - | Major | Intermediate | Minor |
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 | 54.36 | 55.68 | 58.11 | 59.43 | 61.86 | 63.18 | 65.61 |
| Camarilla | 59.52 | 59.86 | 60.21 | 60.55 | 60.89 | 61.24 | 61.58 |
| Woodie | 54.93 | 55.96 | 58.68 | 59.71 | 62.43 | 63.46 | 66.18 |
| Fibonacci | 55.68 | 57.11 | 57.99 | 59.43 | 60.86 | 61.74 | 63.18 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48.09 | 51.56 | 54.95 | 58.42 | 61.81 | 65.28 | 68.67 |
| Camarilla | 56.46 | 57.09 | 57.72 | 58.35 | 58.98 | 59.61 | 60.24 |
| Woodie | 48.06 | 51.54 | 54.92 | 58.40 | 61.78 | 65.26 | 68.64 |
| Fibonacci | 51.56 | 54.18 | 55.80 | 58.42 | 61.04 | 62.66 | 65.28 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 32.13 | 39.17 | 46.18 | 53.22 | 60.23 | 67.27 | 74.28 |
| Camarilla | 49.34 | 50.62 | 51.91 | 53.20 | 54.49 | 55.78 | 57.06 |
| Woodie | 32.13 | 39.16 | 46.18 | 53.21 | 60.23 | 67.26 | 74.28 |
| Fibonacci | 39.17 | 44.53 | 47.85 | 53.22 | 58.58 | 61.90 | 67.27 |
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): | 50.63 | |
| MACD (12,26,9): | 0.0700 | |
| Directional Movement: | 4.26 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 60.11 | |
| Parabolic SAR (0,02-0,02-0,2): | 60.72 | |
| Elder Ray (13): | 0.12 | |
| Super Trend (3,10): | 58.78 | |
| Zig ZAG (10): | 59.79 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 61.09 | |
| TEMA (21): | 59.79 | |
| Williams %R (14): | -45.53 | |
| Chande Momentum Oscillator (20): | -0.37 | |
| Repulse (5,40,3): | -0.3700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 2.06 |
| MA7: | 58.20 | |
| MA20: | 58.33 | |
| MA50: | 55.23 | |
| MA100: | 56.11 | |
| MAexp7: | 59.82 | |
| MAexp20: | 59.93 | |
| MAexp50: | 59.44 | |
| MAexp100: | 58.84 | |
| Price / MA7: | +3.52% | |
| Price / MA20: | +3.29% | |
| Price / MA50: | +9.09% | |
| Price / MA100: | +7.38% | |
| Price / MAexp7: | +0.72% | |
| Price / MAexp20: | +0.53% | |
| Price / MAexp50: | +1.36% | |
| Price / MAexp100: | +2.40% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
About author
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