EGOLD - EGLD/USD - 1H - Technical analysis published on 08/24/2023 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
61%
6%
33%
My opinion
Bullish above 25.71 USD
My targets
26.59 USD (+0.76%)
28.05 USD (+6.29%)
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 EGOLD - EGLD/USD as long as the price remains well above 25.71 USD. The buyers' bullish objective is set at 26.59 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 28.05 USD. If there is any crossing, the next objective would be the resistance located at 28.62 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 26.59 USD. On this resistance, against the trend traders who would like to go short on EGOLD - EGLD/USD with a bearish signal from their trading strategy, should not hesitate to act.
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
2.5
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Additional analysis
Quotes
EGOLD - EGLD/USD rating 26.39 USD. On the day, this instrument lost -0.04% and was traded between 26.20 USD and 26.47 USD over the period. The price is currently at +0.73% from its lowest and -0.30% from its highest.26.20
26.47
26.39
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EGOLD - EGLD/USD:
Technical
A technical analysis in 1H of this EGOLD - EGLD/USD chart shows a slightly bearish trend. Only 53.57% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 24.23 | 25.71 | 26.39 | 26.59 | 28.05 | 28.62 |
| Change (%) | -8.18% | -2.58% | - | +0.76% | +6.29% | +8.45% |
| Change | -2.16 | -0.68 | - | +0.20 | +1.66 | +2.23 |
| Level | Minor | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 24.65 | 25.18 | 25.79 | 26.32 | 26.93 | 27.46 | 28.07 |
| Camarilla | 26.09 | 26.19 | 26.30 | 26.40 | 26.51 | 26.61 | 26.71 |
| Woodie | 24.69 | 25.20 | 25.83 | 26.34 | 26.97 | 27.48 | 28.11 |
| Fibonacci | 25.18 | 25.62 | 25.89 | 26.32 | 26.76 | 27.03 | 27.46 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.35 | 20.79 | 24.30 | 27.74 | 31.25 | 34.69 | 38.20 |
| Camarilla | 25.90 | 26.54 | 27.17 | 27.81 | 28.45 | 29.08 | 29.72 |
| Woodie | 17.39 | 20.81 | 24.34 | 27.76 | 31.29 | 34.71 | 38.24 |
| Fibonacci | 20.79 | 23.45 | 25.09 | 27.74 | 30.40 | 32.04 | 34.69 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.09 | 27.29 | 29.64 | 33.84 | 36.19 | 40.39 | 42.74 |
| Camarilla | 30.19 | 30.79 | 31.39 | 31.99 | 32.59 | 33.19 | 33.79 |
| Woodie | 22.17 | 26.83 | 28.72 | 33.38 | 35.27 | 39.93 | 41.82 |
| Fibonacci | 27.29 | 29.79 | 31.34 | 33.84 | 36.34 | 37.89 | 40.39 |
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): | 55.26 | |
| MACD (12,26,9): | 0.0600 | |
| Directional Movement: | 1.62 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 26.39 | |
| Parabolic SAR (0,02-0,02-0,2): | 26.08 | |
| Elder Ray (13): | 0.06 | |
| Super Trend (3,10): | 26.00 | |
| Zig ZAG (10): | 26.45 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 52.19 | |
| TEMA (21): | 26.49 | |
| Williams %R (14): | -42.86 | |
| Chande Momentum Oscillator (20): | -0.02 | |
| Repulse (5,40,3): | 0.4500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 2.44 |
| MA7: | 26.93 | |
| MA20: | 29.10 | |
| MA50: | 31.99 | |
| MA100: | 33.23 | |
| MAexp7: | 26.39 | |
| MAexp20: | 26.33 | |
| MAexp50: | 26.38 | |
| MAexp100: | 26.74 | |
| Price / MA7: | -2.01% | |
| Price / MA20: | -9.31% | |
| Price / MA50: | -17.51% | |
| Price / MA100: | -20.58% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | +0.23% | |
| Price / MAexp50: | +0.04% | |
| Price / MAexp100: | -1.31% |
Quotes :
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Real time data
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