EUR/TRY - 1H - Technical analysis published on 11/04/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 37.2569 TRY
My targets
37.6924 TRY (+0.2783)
37.9394 TRY (+0.5253)
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 37.2569 TRY. The buyers' bullish objective is set at 37.6924 TRY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 37.9394 TRY. If there is any crossing, the next objective would be the resistance located at 38.1999 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, 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
8.9
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Additional analysis
Quotes
The EUR/TRY price is 37.4141 TRY. The price registered an increase of +0.69% on the session with the lowest point at 37.3153 TRY and the highest point at 37.4483 TRY. The deviation from the price is +0.26% for the low point and -0.09% for the high point.37.3153
37.4483
37.4141
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
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 (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a 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 strongly bullish. 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 market scanner currently does not detect any result that concerns moving averages.
In fact, 16 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 37.1608 | 37.2569 | 37.3875 | 37.4141 | 37.4398 | 38.1999 |
| Change (%) | -0.68% | -0.42% | -0.07% | - | +0.07% | +2.10% |
| Change | -0.2533 | -0.1572 | -0.0266 | - | +0.0257 | +0.7858 |
| Level | Major | Minor | Minor | - | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 36.7730 | 36.9652 | 37.0612 | 37.2534 | 37.3494 | 37.5416 | 37.6376 |
| Camarilla | 37.0781 | 37.1045 | 37.1309 | 37.1573 | 37.1837 | 37.2101 | 37.2366 |
| Woodie | 36.7250 | 36.9412 | 37.0132 | 37.2294 | 37.3014 | 37.5176 | 37.5896 |
| Fibonacci | 36.9652 | 37.0753 | 37.1433 | 37.2534 | 37.3635 | 37.4315 | 37.5416 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 36.3959 | 36.6634 | 36.9104 | 37.1779 | 37.4249 | 37.6924 | 37.9394 |
| Camarilla | 37.0158 | 37.0630 | 37.1101 | 37.1573 | 37.2045 | 37.2516 | 37.2988 |
| Woodie | 36.3856 | 36.6583 | 36.9001 | 37.1728 | 37.4146 | 37.6873 | 37.9291 |
| Fibonacci | 36.6634 | 36.8600 | 36.9814 | 37.1779 | 37.3745 | 37.4959 | 37.6924 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 35.5531 | 36.2186 | 36.7780 | 37.4435 | 38.0029 | 38.6684 | 39.2278 |
| Camarilla | 37.0007 | 37.1129 | 37.2252 | 37.3375 | 37.4498 | 37.5621 | 37.6744 |
| Woodie | 35.5002 | 36.1921 | 36.7251 | 37.4170 | 37.9500 | 38.6419 | 39.1749 |
| Fibonacci | 36.2186 | 36.6865 | 36.9756 | 37.4435 | 37.9114 | 38.2005 | 38.6684 |
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): | 61.99 | |
| MACD (12,26,9): | 0.0383 | |
| Directional Movement: | 22.5272 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 37.3809 | |
| Parabolic SAR (0,02-0,02-0,2): | 37.2577 | |
| Elder Ray (13): | 0.0540 | |
| Super Trend (3,10): | 37.2622 | |
| Zig ZAG (10): | 37.4141 | |
| VORTEX (21): | 0.9614 | |
| Stochastique (14,3,5): | 91.54 | |
| TEMA (21): | 37.4026 | |
| Williams %R (14): | -12.92 | |
| Chande Momentum Oscillator (20): | 0.1807 | |
| Repulse (5,40,3): | 0.0394 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0076 | |
| Courbe Coppock: | 0.66 |
| MA7: | 37.1913 | |
| MA20: | 37.2250 | |
| MA50: | 37.5800 | |
| MA100: | 36.8264 | |
| MAexp7: | 37.3912 | |
| MAexp20: | 37.3377 | |
| MAexp50: | 37.2864 | |
| MAexp100: | 37.2285 | |
| Price / MA7: | +0.60% | |
| Price / MA20: | +0.51% | |
| Price / MA50: | -0.44% | |
| Price / MA100: | +1.60% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | +0.34% | |
| Price / MAexp100: | +0.50% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on EUR/TRY at the time of the analysis were as follows:
Weekly Technical Analysis: 15/05/2023 - EURUSD, EURTRY, USDJPYThis 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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