EUR/TRY - 1H - Technical analysis published on 03/29/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 20.6145 TRY
My targets
20.8065 TRY (+0.0768)
20.8804 TRY (+0.1507)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 20.6145 TRY remains possible. It is advisable to trade EUR/TRY with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 20.6145 TRY. The next bullish objective for buyers is set at 20.8065 TRY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 20.8804 TRY. PS: if there is a bearish break in the support located at 20.6145 TRY we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
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
4.3
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Additional analysis
Quotes
The EUR/TRY rating is 20.7297 TRY. On the day, this instrument gained +0.00% with the lowest point at 20.6886 TRY and the highest point at 20.9241 TRY. The deviation from the price is +0.20% for the low point and -0.93% for the high point.20.6886
20.9241
20.7297
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
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/TRY chart shows a bullish trend. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 20.4275 | 20.6145 | 20.7173 | 20.7297 | 20.8065 | 20.8804 |
| Change (%) | -1.46% | -0.56% | -0.06% | - | +0.37% | +0.73% |
| Change | -0.3022 | -0.1152 | -0.0124 | - | +0.0768 | +0.1507 |
| Level | Major | Minor | Major | - | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.4538 | 20.5401 | 20.6352 | 20.7215 | 20.8166 | 20.9029 | 20.9980 |
| Camarilla | 20.6804 | 20.6970 | 20.7137 | 20.7303 | 20.7469 | 20.7636 | 20.7802 |
| Woodie | 20.4582 | 20.5423 | 20.6396 | 20.7237 | 20.8210 | 20.9051 | 21.0024 |
| Fibonacci | 20.5401 | 20.6094 | 20.6522 | 20.7215 | 20.7908 | 20.8336 | 20.9029 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.5195 | 19.8699 | 20.1797 | 20.5301 | 20.8399 | 21.1903 | 21.5001 |
| Camarilla | 20.3081 | 20.3686 | 20.4291 | 20.4896 | 20.5501 | 20.6106 | 20.6712 |
| Woodie | 19.4993 | 19.8598 | 20.1595 | 20.5200 | 20.8197 | 21.1802 | 21.4799 |
| Fibonacci | 19.8699 | 20.1221 | 20.2779 | 20.5301 | 20.7823 | 20.9381 | 21.1903 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.6658 | 19.2404 | 19.6088 | 20.1834 | 20.5518 | 21.1264 | 21.4948 |
| Camarilla | 19.7179 | 19.8043 | 19.8908 | 19.9772 | 20.0636 | 20.1501 | 20.2365 |
| Woodie | 18.5627 | 19.1889 | 19.5057 | 20.1319 | 20.4487 | 21.0749 | 21.3917 |
| Fibonacci | 19.2404 | 19.6006 | 19.8232 | 20.1834 | 20.5436 | 20.7662 | 21.1264 |
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): | 55.30 | |
| MACD (12,26,9): | 0.0179 | |
| Directional Movement: | 20.4398 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 20.7661 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.8585 | |
| Elder Ray (13): | -0.0019 | |
| Super Trend (3,10): | 20.6608 | |
| Zig ZAG (10): | 20.7617 | |
| VORTEX (21): | 1.0115 | |
| Stochastique (14,3,5): | 27.09 | |
| TEMA (21): | 20.7618 | |
| Williams %R (14): | -69.81 | |
| Chande Momentum Oscillator (20): | 0.0416 | |
| Repulse (5,40,3): | 0.0638 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0144 | |
| Courbe Coppock: | 0.20 |
| MA7: | 20.6392 | |
| MA20: | 20.3267 | |
| MA50: | 20.2825 | |
| MA100: | 19.9911 | |
| MAexp7: | 20.7527 | |
| MAexp20: | 20.7384 | |
| MAexp50: | 20.6971 | |
| MAexp100: | 20.6440 | |
| Price / MA7: | +0.44% | |
| Price / MA20: | +1.98% | |
| Price / MA50: | +2.20% | |
| Price / MA100: | +3.69% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.04% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.42% |
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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