EUR/TRY - 1H - Technical analysis published on 05/15/2020 (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
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
56%
17%
28%
My opinion
Bearish under 7.4953 TRY
My targets
7.4438 TRY (-0.0330)
7.3585 TRY (-0.1183)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EUR/TRY as long as the price remains well below 7.4953 TRY. The sellers” bearish objective is set at 7.4438 TRY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7.3585 TRY. In case of crossing, the next objective would be the support located at 6.9096 TRY. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
FORCE
0
10
4.8
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/TRY rating is 7.4768 TRY. The price registered a decrease of -0.10% on the session and was between 7.4540 TRY and 7.4864 TRY. This implies that the price is at +0.31% from its lowest and at -0.13% from its highest.7.4540
7.4864
7.4768
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EUR/TRY:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/TRY indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support 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 | 6.5408 | 6.9096 | 7.4438 | 7.4768 | 7.4953 | 7.6193 | 7.7090 |
| Change (%) | -12.52% | -7.59% | -0.44% | - | +0.25% | +1.91% | +3.11% |
| Change | -0.9360 | -0.5672 | -0.0330 | - | +0.0185 | +0.1425 | +0.2322 |
| Level | Major | Major | Intermediate | - | Minor | Intermediate | Minor |
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 | 7.3328 | 7.3883 | 7.4363 | 7.4918 | 7.5398 | 7.5953 | 7.6433 |
| Camarilla | 7.4558 | 7.4653 | 7.4748 | 7.4843 | 7.4938 | 7.5033 | 7.5128 |
| Woodie | 7.3291 | 7.3864 | 7.4326 | 7.4899 | 7.5361 | 7.5934 | 7.6396 |
| Fibonacci | 7.3883 | 7.4278 | 7.4523 | 7.4918 | 7.5313 | 7.5558 | 7.5953 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.3585 | 7.4891 | 7.5839 | 7.7145 | 7.8093 | 7.9399 | 8.0347 |
| Camarilla | 7.6167 | 7.6374 | 7.6580 | 7.6787 | 7.6994 | 7.7200 | 7.7407 |
| Woodie | 7.3406 | 7.4802 | 7.5660 | 7.7056 | 7.7914 | 7.9310 | 8.0168 |
| Fibonacci | 7.4891 | 7.5752 | 7.6284 | 7.7145 | 7.8006 | 7.8538 | 7.9399 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7856 | 6.9659 | 7.3081 | 7.4884 | 7.8306 | 8.0109 | 8.3531 |
| Camarilla | 7.5066 | 7.5545 | 7.6024 | 7.6503 | 7.6982 | 7.7461 | 7.7940 |
| Woodie | 6.8666 | 7.0064 | 7.3891 | 7.5289 | 7.9116 | 8.0514 | 8.4341 |
| Fibonacci | 6.9659 | 7.1655 | 7.2888 | 7.4884 | 7.6880 | 7.8113 | 8.0109 |
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): | 40.82 | |
| MACD (12,26,9): | -0.0133 | |
| Directional Movement: | -16.3623 | |
| AROON (14): | 21.4286 | |
| DEMA (21): | 7.4659 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.4524 | |
| Elder Ray (13): | 0.0005 | |
| Super Trend (3,10): | 7.5133 | |
| Zig ZAG (10): | 7.4795 | |
| VORTEX (21): | 0.9203 | |
| Stochastique (14,3,5): | 74.19 | |
| TEMA (21): | 7.4689 | |
| Williams %R (14): | -21.53 | |
| Chande Momentum Oscillator (20): | -0.0031 | |
| Repulse (5,40,3): | 0.1122 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0309 | |
| Courbe Coppock: | 0.30 |
| MA7: | 7.5865 | |
| MA20: | 7.5992 | |
| MA50: | 7.3616 | |
| MA100: | 6.9938 | |
| MAexp7: | 7.4762 | |
| MAexp20: | 7.4847 | |
| MAexp50: | 7.5167 | |
| MAexp100: | 7.5603 | |
| Price / MA7: | -1.45% | |
| Price / MA20: | -1.61% | |
| Price / MA50: | +1.56% | |
| Price / MA100: | +6.91% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.11% | |
| Price / MAexp50: | -0.53% | |
| Price / MAexp100: | -1.10% |
This member declared not having a position on this financial instrument or a related financial instrument.
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