EUR/USD - Daily - Technical analysis published on 05/20/2024 (GMT)
- 98
- 0
- Timeframe : Daily
- - Analysis generated on
- Status : IN PROGRESS...
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above
My targets
()
()
My analysis
The strong short-term increase for EUR/USD reinforces the current slightly bullish trend. As long as the price remains above , you could take advantage of this bullish acceleration. The first bullish objective is located at . The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at as an objective. Crossing it would then enable buyers to target . A return to would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
5
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This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/USD rating 1.0873 USD. The price registered an increase of +0.05% on the session and was between 1.0860 USD and 1.0877 USD. This implies that the price is at +0.12% from its lowest and at -0.04% from its highest.1.0860
1.0877
1.0873
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/USD in Daily shows an overall slightly bullish trend. Only 57.14% of the signals given by moving averages are bullish. This slightly bullish trend is reinforced by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
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 : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0638 | 1.0708 | 1.0862 | 1.0873 | 1.0953 | 1.1004 | 1.1108 |
| Change (%) | -2.16% | -1.52% | -0.10% | - | +0.74% | +1.20% | +2.16% |
| Change | -0.0235 | -0.0165 | -0.0011 | - | +0.0080 | +0.0131 | +0.0235 |
| Level | Major | Minor | Minor | - | Major | Minor | Intermediate |
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 | 1.0798 | 1.0817 | 1.0842 | 1.0861 | 1.0886 | 1.0905 | 1.0930 |
| Camarilla | 1.0856 | 1.0860 | 1.0864 | 1.0868 | 1.0872 | 1.0876 | 1.0880 |
| Woodie | 1.0802 | 1.0819 | 1.0846 | 1.0863 | 1.0890 | 1.0907 | 1.0934 |
| Fibonacci | 1.0817 | 1.0834 | 1.0844 | 1.0861 | 1.0878 | 1.0888 | 1.0905 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0662 | 1.0714 | 1.0791 | 1.0843 | 1.0920 | 1.0972 | 1.1049 |
| Camarilla | 1.0833 | 1.0844 | 1.0856 | 1.0868 | 1.0880 | 1.0892 | 1.0904 |
| Woodie | 1.0675 | 1.0720 | 1.0804 | 1.0849 | 1.0933 | 1.0978 | 1.1062 |
| Fibonacci | 1.0714 | 1.0763 | 1.0794 | 1.0843 | 1.0892 | 1.0923 | 1.0972 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0266 | 1.0433 | 1.0550 | 1.0717 | 1.0834 | 1.1001 | 1.1118 |
| Camarilla | 1.0588 | 1.0614 | 1.0640 | 1.0666 | 1.0692 | 1.0718 | 1.0744 |
| Woodie | 1.0240 | 1.0421 | 1.0524 | 1.0705 | 1.0808 | 1.0989 | 1.1092 |
| Fibonacci | 1.0433 | 1.0542 | 1.0609 | 1.0717 | 1.0826 | 1.0893 | 1.1001 |
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): | 64.37 | |
| MACD (12,26,9): | 0.0034 | |
| Directional Movement: | 12.0352 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 1.0833 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0779 | |
| Elder Ray (13): | 0.0053 | |
| Super Trend (3,10): | 1.0737 | |
| Zig ZAG (10): | 1.0873 | |
| VORTEX (21): | 1.2288 | |
| Stochastique (14,3,5): | 89.91 | |
| TEMA (21): | 1.0875 | |
| Williams %R (14): | -9.95 | |
| Chande Momentum Oscillator (20): | 0.0111 | |
| Repulse (5,40,3): | 0.3284 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0213 | |
| Courbe Coppock: | 2.59 |
| MA7: | 1.0854 | |
| MA20: | 1.0775 | |
| MA50: | 1.0781 | |
| MA100: | 1.0818 | |
| MAexp7: | 1.0850 | |
| MAexp20: | 1.0799 | |
| MAexp50: | 1.0788 | |
| MAexp100: | 1.0802 | |
| Price / MA7: | +0.18% | |
| Price / MA20: | +0.91% | |
| Price / MA50: | +0.85% | |
| Price / MA100: | +0.51% | |
| Price / MAexp7: | +0.21% | |
| Price / MAexp20: | +0.69% | |
| Price / MAexp50: | +0.79% | |
| Price / MAexp100: | +0.66% |
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:
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EUR/USD Long Term Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 16, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 15, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 14, 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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