EUR/USD - Daily - Technical analysis published on 09/10/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 1.0795 USD
My targets
1.0638 USD (-0.0061)
1.0548 USD (-0.0151)
My analysis
The bearish trend is currently very strong for EUR/USD. As long as the price remains below the resistance at 1.0795 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.0638 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.0548 USD as an objective. Crossing it would then enable sellers to target 1.0468 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.3
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This analysis was given by MagicMizrahi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/USD price is 1.0699 USD. On the day, this instrument gained +0.02% and was traded between 1.0694 USD and 1.0744 USD over the period. The price is currently at +0.05% from its lowest and -0.42% from its highest.1.0694
1.0744
1.0699
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
A technical analysis in Daily of this EUR/USD chart shows a sharp bearish trend. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
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:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
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:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0468 | 1.0548 | 1.0638 | 1.0699 | 1.0795 | 1.1069 | 1.1237 |
| Change (%) | -2.16% | -1.41% | -0.57% | - | +0.90% | +3.46% | +5.03% |
| Change | -0.0231 | -0.0151 | -0.0061 | - | +0.0096 | +0.0370 | +0.0538 |
| Level | Minor | Major | Major | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0631 | 1.0662 | 1.0681 | 1.0712 | 1.0731 | 1.0762 | 1.0781 |
| Camarilla | 1.0685 | 1.0690 | 1.0694 | 1.0699 | 1.0704 | 1.0708 | 1.0713 |
| Woodie | 1.0624 | 1.0659 | 1.0674 | 1.0709 | 1.0724 | 1.0759 | 1.0774 |
| Fibonacci | 1.0662 | 1.0681 | 1.0693 | 1.0712 | 1.0731 | 1.0743 | 1.0762 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0531 | 1.0608 | 1.0654 | 1.0731 | 1.0777 | 1.0854 | 1.0900 |
| Camarilla | 1.0665 | 1.0677 | 1.0688 | 1.0699 | 1.0710 | 1.0722 | 1.0733 |
| Woodie | 1.0515 | 1.0600 | 1.0638 | 1.0723 | 1.0761 | 1.0846 | 1.0884 |
| Fibonacci | 1.0608 | 1.0655 | 1.0684 | 1.0731 | 1.0778 | 1.0807 | 1.0854 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0418 | 1.0592 | 1.0717 | 1.0891 | 1.1016 | 1.1190 | 1.1315 |
| Camarilla | 1.0760 | 1.0787 | 1.0815 | 1.0842 | 1.0869 | 1.0897 | 1.0924 |
| Woodie | 1.0394 | 1.0580 | 1.0693 | 1.0879 | 1.0992 | 1.1178 | 1.1291 |
| Fibonacci | 1.0592 | 1.0706 | 1.0777 | 1.0891 | 1.1005 | 1.1076 | 1.1190 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 32.40 | |
| MACD (12,26,9): | -0.0063 | |
| Directional Movement: | -11.7528 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 1.0743 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0882 | |
| Elder Ray (13): | -0.0067 | |
| Super Trend (3,10): | 1.0926 | |
| Zig ZAG (10): | 1.0699 | |
| VORTEX (21): | 0.8159 | |
| Stochastique (14,3,5): | 6.08 | |
| TEMA (21): | 1.0705 | |
| Williams %R (14): | -95.00 | |
| Chande Momentum Oscillator (20): | -0.0166 | |
| Repulse (5,40,3): | -0.8280 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0703 | |
| Courbe Coppock: | 2.33 |
| MA7: | 1.0751 | |
| MA20: | 1.0826 | |
| MA50: | 1.0950 | |
| MA100: | 1.0912 | |
| MAexp7: | 1.0746 | |
| MAexp20: | 1.0821 | |
| MAexp50: | 1.0886 | |
| MAexp100: | 1.0870 | |
| Price / MA7: | -0.48% | |
| Price / MA20: | -1.17% | |
| Price / MA50: | -2.29% | |
| Price / MA100: | -1.95% | |
| Price / MAexp7: | -0.44% | |
| Price / MAexp20: | -1.13% | |
| Price / MAexp50: | -1.72% | |
| Price / MAexp100: | -1.57% |
Quotes :
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Real time data
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Forex
News
The last news published on EUR/USD at the time of the generation of this analysis was as follows:
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Uncertainty Around ECB Rate Meeting Highlights EUR/USD, US CPI to Keep the Dollar Bid?
-
EUR/USD Forecast September 11, 2023
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EUR/USD Technical Analysis for the Week of September 11, 2023 by FXEmpire
-
EUR/USD Technical Analysis for September 11, 2023 by FXEmpire
-
EUR/USD Technical Analysis for September 08, 2023 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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