EUR/DKK - 1H - Technical analysis published on 03/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 7.4537 DKK
My targets
7.4507 DKK (-0.0027)
7.4459 DKK (-0.0075)
My analysis
The bearish basic trend is very strong on EUR/DKK but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 7.4537 DKK. Crossing the first support at 7.4507 DKK would be a sign of a further potential price plummet. Sellers would then use the next support located at 7.4459 DKK as an objective. Crossing it would then enable sellers to target 7.4423 DKK. Caution, a return to above the resistance located at 7.4537 DKK would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.5
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Additional analysis
Quotes
The EUR/DKK rating is 7.4534 DKK. On the day, this instrument lost -0.01% with the lowest point at 7.4530 DKK and the highest point at 7.4548 DKK. The deviation from the price is +0.01% for the low point and -0.02% for the high point.7.4530
7.4548
7.4534
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/DKK indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
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 support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.4480 | 7.4507 | 7.4533 | 7.4534 | 7.4535 | 7.4537 | 7.4540 |
| Change (%) | -0.07% | -0.04% | +0.00% | - | +0.00% | +0.00% | +0.01% |
| Change | -0.0054 | -0.0027 | -0.0001 | - | +0.0001 | +0.0003 | +0.0006 |
| Level | Minor | Minor | Minor | - | Major | 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 | 7.4525 | 7.4529 | 7.4535 | 7.4539 | 7.4545 | 7.4549 | 7.4555 |
| Camarilla | 7.4537 | 7.4538 | 7.4539 | 7.4540 | 7.4541 | 7.4542 | 7.4543 |
| Woodie | 7.4525 | 7.4530 | 7.4535 | 7.4540 | 7.4545 | 7.4550 | 7.4555 |
| Fibonacci | 7.4529 | 7.4533 | 7.4536 | 7.4539 | 7.4543 | 7.4546 | 7.4549 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.4511 | 7.4523 | 7.4534 | 7.4546 | 7.4557 | 7.4569 | 7.4580 |
| Camarilla | 7.4539 | 7.4541 | 7.4543 | 7.4545 | 7.4547 | 7.4549 | 7.4551 |
| Woodie | 7.4511 | 7.4523 | 7.4534 | 7.4546 | 7.4557 | 7.4569 | 7.4580 |
| Fibonacci | 7.4523 | 7.4532 | 7.4537 | 7.4546 | 7.4555 | 7.4560 | 7.4569 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.4424 | 7.4477 | 7.4508 | 7.4561 | 7.4592 | 7.4645 | 7.4676 |
| Camarilla | 7.4517 | 7.4525 | 7.4532 | 7.4540 | 7.4548 | 7.4555 | 7.4563 |
| Woodie | 7.4414 | 7.4472 | 7.4498 | 7.4556 | 7.4582 | 7.4640 | 7.4666 |
| Fibonacci | 7.4477 | 7.4509 | 7.4529 | 7.4561 | 7.4593 | 7.4613 | 7.4645 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 40.15 | |
| MACD (12,26,9): | -0.0002 | |
| Directional Movement: | -18.6186 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 7.4537 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.4543 | |
| Elder Ray (13): | -0.0004 | |
| Super Trend (3,10): | 7.4544 | |
| Zig ZAG (10): | 7.4534 | |
| VORTEX (21): | 0.9091 | |
| Stochastique (14,3,5): | 14.81 | |
| TEMA (21): | 7.4535 | |
| Williams %R (14): | -77.78 | |
| Chande Momentum Oscillator (20): | -0.0011 | |
| Repulse (5,40,3): | -0.0022 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0001 | |
| Courbe Coppock: | 0.02 |
| MA7: | 7.4541 | |
| MA20: | 7.4549 | |
| MA50: | 7.4557 | |
| MA100: | 7.4571 | |
| MAexp7: | 7.4536 | |
| MAexp20: | 7.4538 | |
| MAexp50: | 7.4539 | |
| MAexp100: | 7.4540 | |
| Price / MA7: | -0.01% | |
| Price / MA20: | -0.02% | |
| Price / MA50: | -0.03% | |
| Price / MA100: | -0.05% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | -0.01% | |
| Price / MAexp100: | -0.01% |
Quotes :
-
Real time data
-
Forex
This 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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