EUR/TRY - 1H - Technical analysis published on 12/12/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
28%
39%
33%
My opinion
Bullish above 31.2841 TRY
My targets
31.5792 TRY (+0.2424)
31.8260 TRY (+0.4892)
My analysis
EUR/TRY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 31.2841 TRY. The next resistance located at 31.5792 TRY is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 31.8260 TRY. After this resistance, buyers could then target 32.0372 TRY. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
5.7
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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 EUR/TRY rating is 31.3368 TRY. The price registered an increase of +0.50% on the session and was between 31.1248 TRY and 31.4457 TRY. This implies that the price is at +0.68% from its lowest and at -0.35% from its highest.31.1248
31.4457
31.3368
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/TRY in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
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 | 31.0698 | 31.2085 | 31.2841 | 31.3368 | 31.5792 | 31.8260 | 32.0372 |
| Change (%) | -0.85% | -0.41% | -0.17% | - | +0.77% | +1.56% | +2.24% |
| Change | -0.2670 | -0.1283 | -0.0527 | - | +0.2424 | +0.4892 | +0.7004 |
| Level | Major | Minor | Major | - | Minor | Major | 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 | 30.8528 | 30.9588 | 31.0701 | 31.1761 | 31.2874 | 31.3934 | 31.5047 |
| Camarilla | 31.1217 | 31.1417 | 31.1616 | 31.1815 | 31.2014 | 31.2213 | 31.2413 |
| Woodie | 30.8556 | 30.9601 | 31.0729 | 31.1774 | 31.2902 | 31.3947 | 31.5075 |
| Fibonacci | 30.9588 | 31.0418 | 31.0931 | 31.1761 | 31.2591 | 31.3104 | 31.3934 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.8330 | 30.4539 | 30.7953 | 31.4162 | 31.7576 | 32.3785 | 32.7199 |
| Camarilla | 30.8720 | 30.9602 | 31.0484 | 31.1366 | 31.2248 | 31.3130 | 31.4012 |
| Woodie | 29.6932 | 30.3840 | 30.6555 | 31.3463 | 31.6178 | 32.3086 | 32.5801 |
| Fibonacci | 30.4539 | 30.8215 | 31.0486 | 31.4162 | 31.7838 | 32.0109 | 32.3785 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 28.1547 | 28.9749 | 30.2272 | 31.0474 | 32.2997 | 33.1199 | 34.3722 |
| Camarilla | 30.9095 | 31.0994 | 31.2894 | 31.4794 | 31.6694 | 31.8594 | 32.0493 |
| Woodie | 28.3707 | 29.0829 | 30.4432 | 31.1554 | 32.5157 | 33.2279 | 34.5882 |
| Fibonacci | 28.9749 | 29.7666 | 30.2557 | 31.0474 | 31.8391 | 32.3282 | 33.1199 |
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): | 57.21 | |
| MACD (12,26,9): | 0.0266 | |
| Directional Movement: | 5.4494 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 31.3386 | |
| Parabolic SAR (0,02-0,02-0,2): | 31.4344 | |
| Elder Ray (13): | -0.0118 | |
| Super Trend (3,10): | 31.2313 | |
| Zig ZAG (10): | 31.3233 | |
| VORTEX (21): | 1.0408 | |
| Stochastique (14,3,5): | 35.57 | |
| TEMA (21): | 31.3444 | |
| Williams %R (14): | -63.65 | |
| Chande Momentum Oscillator (20): | -0.0429 | |
| Repulse (5,40,3): | 0.2287 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0146 | |
| Courbe Coppock: | 0.27 |
| MA7: | 31.2197 | |
| MA20: | 31.3841 | |
| MA50: | 30.4651 | |
| MA100: | 29.7988 | |
| MAexp7: | 31.3228 | |
| MAexp20: | 31.3016 | |
| MAexp50: | 31.2606 | |
| MAexp100: | 31.2545 | |
| Price / MA7: | +0.38% | |
| Price / MA20: | -0.15% | |
| Price / MA50: | +2.86% | |
| Price / MA100: | +5.16% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.11% | |
| Price / MAexp50: | +0.24% | |
| Price / MAexp100: | +0.26% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on EUR/TRY at the time of the analysis were as follows:
Weekly Technical Analysis: 15/05/2023 - EURUSD, EURTRY, USDJPYThis member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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