EUR/TRY - 1H - Technical analysis published on 12/09/2024 (GMT)
- 110
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bullish
Technical indicators
17%
44%
39%
My opinion
Neutral between 36.5960 TRY and 36.7698 TRY
My targets
-
My analysis
The current short-term bearish trend is in contrast to the bullish trend. EUR/TRY is apparently trying to reverse the trend. The return to a neutral and then bearish trend should not be long in coming if the current decline continues. What is currently happening on EUR/TRY basics that the price is plunging so much? In such a situation, it would be feasible to stay away from EUR/TRY or not try to counterbalance this current drop in the short term. If there is a sale, the sellers could use the support located at 36.5960 TRY as an objective. Sellers could then target the support located at 36.4372 TRY. If there is any crossing, the next objective would be support 36.3283 TRY. Attention should be paid to the price reaction at the start of the supports as trend traders may consider resuming purchases if the basic trend has not been able to ease or if the short term has itself become excessive.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bearish and could soon allow change to a bearish sentiment.
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Additional analysis
Quotes
EUR/TRY rating 36.7020 TRY. On the day, this instrument lost -0.01% and was traded between 36.6978 TRY and 36.7898 TRY over the period. The price is currently at +0.01% from its lowest and -0.24% from its highest.36.6978
36.7898
36.7020
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/TRY in 1H shows an overall bullish trend. The signals given by moving averages are 64.29% bullish. This bullish trend could be challenged by the strong bearish signals currently being 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, only 8 technical indicators out of 18 analysed are currently bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 36.4372 | 36.5960 | 36.6963 | 36.7020 | 36.7698 | 36.8353 | 36.9441 |
| Change (%) | -0.72% | -0.29% | -0.02% | - | +0.18% | +0.36% | +0.66% |
| Change | -0.2648 | -0.1060 | -0.0057 | - | +0.0678 | +0.1333 | +0.2421 |
| Level | Intermediate | Minor | Minor | - | Intermediate | Minor | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 36.2535 | 36.4580 | 36.5818 | 36.7863 | 36.9101 | 37.1146 | 37.2384 |
| Camarilla | 36.6154 | 36.6455 | 36.6756 | 36.7057 | 36.7358 | 36.7659 | 36.7960 |
| Woodie | 36.2133 | 36.4378 | 36.5416 | 36.7661 | 36.8699 | 37.0944 | 37.1982 |
| Fibonacci | 36.4580 | 36.5834 | 36.6609 | 36.7863 | 36.9117 | 36.9892 | 37.1146 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 35.6967 | 36.0125 | 36.3591 | 36.6749 | 37.0215 | 37.3373 | 37.6839 |
| Camarilla | 36.5235 | 36.5843 | 36.6450 | 36.7057 | 36.7664 | 36.8271 | 36.8879 |
| Woodie | 35.7121 | 36.0202 | 36.3745 | 36.6826 | 37.0369 | 37.3450 | 37.6993 |
| Fibonacci | 36.0125 | 36.2655 | 36.4219 | 36.6749 | 36.9279 | 37.0843 | 37.3373 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 33.9794 | 34.8571 | 35.7778 | 36.6555 | 37.5762 | 38.4539 | 39.3746 |
| Camarilla | 36.2039 | 36.3688 | 36.5337 | 36.6985 | 36.8634 | 37.0282 | 37.1931 |
| Woodie | 34.0009 | 34.8679 | 35.7993 | 36.6663 | 37.5977 | 38.4647 | 39.3961 |
| Fibonacci | 34.8571 | 35.5441 | 35.9685 | 36.6555 | 37.3425 | 37.7669 | 38.4539 |
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): | 47.43 | |
| MACD (12,26,9): | -0.0014 | |
| Directional Movement: | 7.3725 | |
| AROON (14): | -35.7143 | |
| DEMA (21): | 36.7489 | |
| Parabolic SAR (0,02-0,02-0,2): | 36.7899 | |
| Elder Ray (13): | -0.0116 | |
| Super Trend (3,10): | 36.8778 | |
| Zig ZAG (10): | 36.7293 | |
| VORTEX (21): | 0.9514 | |
| Stochastique (14,3,5): | 29.70 | |
| TEMA (21): | 36.7229 | |
| Williams %R (14): | -57.08 | |
| Chande Momentum Oscillator (20): | -0.0231 | |
| Repulse (5,40,3): | -0.0980 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0018 | |
| Courbe Coppock: | 0.40 |
| MA7: | 36.6368 | |
| MA20: | 36.4644 | |
| MA50: | 36.9417 | |
| MA100: | 37.0993 | |
| MAexp7: | 36.7307 | |
| MAexp20: | 36.7462 | |
| MAexp50: | 36.7120 | |
| MAexp100: | 36.6481 | |
| Price / MA7: | +0.18% | |
| Price / MA20: | +0.65% | |
| Price / MA50: | -0.65% | |
| Price / MA100: | -1.07% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.12% | |
| Price / MAexp50: | -0.03% | |
| Price / MAexp100: | +0.15% |
Quotes :
-
Real time data
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Forex
News
Don't forget to follow the news on EUR/TRY. At the time of publication of this analysis, the latest news was 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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