EUR/TRY - 1H - Technical analysis published on 04/02/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Neutral
Technical indicators
22%
67%
11%
My opinion
Bearish under 20.8065 TRY
My targets
20.7173 TRY (-0.0602)
20.6145 TRY (-0.1630)
My analysis
The current short-term bearish acceleration registered on EUR/TRY should quickly allow the basic trend to return to a bearish trend. To avoid contradicting the short term, traders could favour short positions (for sale) as long as the price remains well below 20.8065 TRY. Short-term sellers will use the support located at 20.7173 TRY as an objective. A bearish break of this support would revive the bearish momentum. The next bearish objective would then be set at 20.6145 TRY. Crossing this support would then open the door for sellers to target 20.5454 TRY. Caution, if there is a return to below 20.8065 TRY, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend buyers, many of whom will certainly benefit from this movement.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.2
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/TRY price is 20.7775 TRY. The price is lower by -0.66% since the last closing with the lowest point at 20.7775 TRY and the highest point at 20.9598 TRY. The deviation from the price is 0% for the low point and -0.87% for the high point.20.7775
20.9598
20.7775
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EUR/TRY:
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
Technical analysis of this 1H chart of EUR/TRY indicates that the overall trend is not clearly defined. This indecision could turn into a bearish trend due to the strong bearish 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.
On the 18 technical indicators analysed, 4 are bullish, 2 are neutral and 12 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
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
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20.5454 | 20.6145 | 20.7173 | 20.7775 | 20.8065 | 20.8804 | 20.9226 |
| Change (%) | -1.12% | -0.78% | -0.29% | - | +0.14% | +0.50% | +0.70% |
| Change | -0.2321 | -0.1630 | -0.0602 | - | +0.0290 | +0.1029 | +0.1451 |
| Level | Minor | Minor | Major | - | Minor | Intermediate | 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 | 20.5807 | 20.6588 | 20.7872 | 20.8653 | 20.9937 | 21.0718 | 21.2002 |
| Camarilla | 20.8587 | 20.8776 | 20.8966 | 20.9155 | 20.9344 | 20.9534 | 20.9723 |
| Woodie | 20.6058 | 20.6714 | 20.8123 | 20.8779 | 21.0188 | 21.0844 | 21.2253 |
| Fibonacci | 20.6588 | 20.7377 | 20.7865 | 20.8653 | 20.9442 | 20.9930 | 21.0718 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.11 | |
| MACD (12,26,9): | -0.0159 | |
| Directional Movement: | -8.5405 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 20.8421 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.8938 | |
| Elder Ray (13): | -0.0497 | |
| Super Trend (3,10): | 20.9060 | |
| Zig ZAG (10): | 20.7775 | |
| VORTEX (21): | 0.8425 | |
| Stochastique (14,3,5): | 4.84 | |
| TEMA (21): | 20.8103 | |
| Williams %R (14): | -100.00 | |
| Chande Momentum Oscillator (20): | -0.1100 | |
| Repulse (5,40,3): | -0.3532 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0015 | |
| Courbe Coppock: | 0.76 |
| MA7: | 20.7105 | |
| MA20: | 20.4108 | |
| MA50: | 20.3016 | |
| MA100: | 20.0272 | |
| MAexp7: | 20.8235 | |
| MAexp20: | 20.8549 | |
| MAexp50: | 20.8405 | |
| MAexp100: | 20.7807 | |
| Price / MA7: | +0.32% | |
| Price / MA20: | +1.80% | |
| Price / MA50: | +2.34% | |
| Price / MA100: | +3.75% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -0.37% | |
| Price / MAexp50: | -0.30% | |
| Price / MAexp100: | -0.02% |
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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