EUR/MXN - 1H - Technical analysis published on 10/17/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 18.9112 MXN
My targets
19.1884 MXN (+0.1355)
19.3508 MXN (+0.2979)
My analysis
EUR/MXN 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 18.9112 MXN. The next resistance located at 19.1884 MXN 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 19.3508 MXN. After this resistance, buyers could then target 19.4253 MXN. 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 confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.4
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Additional analysis
Quotes
The EUR/MXN price is 19.0529 MXN. On the day, this instrument gained +0.79% and was traded between 18.8547 MXN and 19.0804 MXN over the period. The price is currently at +1.05% from its lowest and -0.14% from its highest.18.8547
19.0804
19.0529
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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 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/MXN in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 89.29% 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 shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 18.8025 | 18.9112 | 19.0474 | 19.0529 | 19.1884 | 19.3508 | 19.4253 |
| Change (%) | -1.31% | -0.74% | -0.03% | - | +0.71% | +1.56% | +1.95% |
| Change | -0.2504 | -0.1417 | -0.0055 | - | +0.1355 | +0.2979 | +0.3724 |
| Level | Intermediate | Major | Major | - | Intermediate | 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 | 18.6695 | 18.7697 | 18.8369 | 18.9371 | 19.0043 | 19.1045 | 19.1717 |
| Camarilla | 18.8582 | 18.8735 | 18.8889 | 18.9042 | 18.9196 | 18.9349 | 18.9502 |
| Woodie | 18.6531 | 18.7615 | 18.8205 | 18.9289 | 18.9879 | 19.0963 | 19.1553 |
| Fibonacci | 18.7697 | 18.8336 | 18.8731 | 18.9371 | 19.0010 | 19.0405 | 19.1045 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.1312 | 18.4662 | 18.7388 | 19.0738 | 19.3464 | 19.6814 | 19.9540 |
| Camarilla | 18.8443 | 18.9000 | 18.9557 | 19.0114 | 19.0671 | 19.1228 | 19.1785 |
| Woodie | 18.1000 | 18.4506 | 18.7076 | 19.0582 | 19.3152 | 19.6658 | 19.9228 |
| Fibonacci | 18.4662 | 18.6983 | 18.8417 | 19.0738 | 19.3059 | 19.4493 | 19.6814 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.2278 | 17.6915 | 18.0550 | 18.5187 | 18.8822 | 19.3459 | 19.7094 |
| Camarilla | 18.1910 | 18.2669 | 18.3427 | 18.4185 | 18.4943 | 18.5702 | 18.6460 |
| Woodie | 17.1777 | 17.6665 | 18.0049 | 18.4937 | 18.8321 | 19.3209 | 19.6593 |
| Fibonacci | 17.6915 | 18.0075 | 18.2027 | 18.5187 | 18.8347 | 19.0299 | 19.3459 |
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): | 63.53 | |
| MACD (12,26,9): | 0.0319 | |
| Directional Movement: | 13.1103 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 19.0232 | |
| Parabolic SAR (0,02-0,02-0,2): | 18.9631 | |
| Elder Ray (13): | 0.0466 | |
| Super Trend (3,10): | 18.9188 | |
| Zig ZAG (10): | 19.0517 | |
| VORTEX (21): | 1.1530 | |
| Stochastique (14,3,5): | 87.92 | |
| TEMA (21): | 19.0495 | |
| Williams %R (14): | -16.32 | |
| Chande Momentum Oscillator (20): | 0.1039 | |
| Repulse (5,40,3): | 0.2024 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0157 | |
| Courbe Coppock: | 1.23 |
| MA7: | 19.0202 | |
| MA20: | 18.7666 | |
| MA50: | 18.5937 | |
| MA100: | 18.6513 | |
| MAexp7: | 19.0304 | |
| MAexp20: | 18.9873 | |
| MAexp50: | 18.9601 | |
| MAexp100: | 18.9644 | |
| Price / MA7: | +0.17% | |
| Price / MA20: | +1.53% | |
| Price / MA50: | +2.47% | |
| Price / MA100: | +2.15% | |
| Price / MAexp7: | +0.12% | |
| Price / MAexp20: | +0.35% | |
| Price / MAexp50: | +0.49% | |
| Price / MAexp100: | +0.47% |
Quotes :
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Real time data
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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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