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EUR/TRY
EUR TRY
- TRY (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: EURTRY
ISIN:

EUR/TRY - 1H - Technical analysis published on 07/04/2024 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 35.2240 TRY
My targets
35.4406 TRY (+0.1359)
35.5541 TRY (+0.2494)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/TRY as long as the price remains well above 35.2240 TRY. The buyers' bullish objective is set at 35.4406 TRY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 35.5541 TRY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
9.1

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Londinia
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

EUR/TRY rating 35.3047 TRY. The price registered an increase of +0.51% on the session and was traded between 35.0824 TRY and 35.3093 TRY over the period. The price is currently at +0.63% from its lowest and -0.01% from its highest.

35.0824
35.3093
35.3047

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


A technical analysis in 1H of this EUR/TRY chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

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:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 35.0925 35.1522 35.2240 35.3047 35.3317 35.4406 35.5541
Change (%) -0.60% -0.43% -0.23% - +0.08% +0.38% +0.71%
Change -0.2122 -0.1525 -0.0807 - +0.0270 +0.1359 +0.2494
Level Minor Minor Intermediate - Intermediate Major Intermediate



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard34.667034.798034.962035.093035.257035.388035.5520
Camarilla35.044935.071935.099035.126035.153035.180135.2071
Woodie34.683534.806334.978535.101335.273535.396335.5685
Fibonacci34.798034.910734.980335.093035.205735.275335.3880


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard34.269534.612434.868435.211335.467335.810236.0662
Camarilla34.959835.014735.069635.124535.179435.234335.2892
Woodie34.226234.590734.825135.189635.424035.788536.0229
Fibonacci34.612434.841234.982535.211335.440135.581435.8102


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard33.762034.209734.667135.114835.572236.019936.4773
Camarilla34.875634.958635.041535.124535.207535.290435.3734
Woodie33.766934.212134.672035.117235.577136.022336.4822
Fibonacci34.209734.555534.769135.114835.460635.674236.0199

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): 78.39
MACD (12,26,9): 0.0412
Directional Movement: 19.1600
AROON (14): 92.8571
DEMA (21): 35.2447
Parabolic SAR (0,02-0,02-0,2): 35.1517
Elder Ray (13): 0.0593
Super Trend (3,10): 35.1234
Zig ZAG (10): 35.2999
VORTEX (21): 1.1315
Stochastique (14,3,5): 89.13
TEMA (21): 35.2609
Williams %R (14): -5.17
Chande Momentum Oscillator (20): 0.1156
Repulse (5,40,3): 0.4452
ROCnROLL: 1
TRIX (15,9): 0.0132
Courbe Coppock: 0.52
MA7: 35.1287
MA20: 35.0700
MA50: 34.9615
MA100: 34.7523
MAexp7: 35.2440
MAexp20: 35.1951
MAexp50: 35.1423
MAexp100: 35.1242
Price / MA7: +0.50%
Price / MA20: +0.67%
Price / MA50: +0.98%
Price / MA100: +1.59%
Price / MAexp7: +0.17%
Price / MAexp20: +0.31%
Price / MAexp50: +0.46%
Price / MAexp100: +0.51%

Quotes : - Real time data - Forex

News


The last news published on EUR/TRY at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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