EUR/USD - 1H - Technical analysis published on 05/16/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
28%
28%
44%
My opinion
Bullish above 1.0826 USD
My targets
1.0953 USD (+0.0086)
1.1004 USD (+0.0137)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 1.0826 USD remains possible. It is advisable to trade EUR/USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 1.0826 USD. The next bullish objective for buyers is set at 1.0953 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.1004 USD. If there is any crossing, the next objective would be the resistance located at 1.1108 USD. PS: if there is a bearish break in the support located at 1.0826 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
2.5
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Additional analysis
Quotes
The EUR/USD rating is 1.0867 USD. On the day, this instrument lost -0.19% and was between 1.0854 USD and 1.0895 USD. This implies that the price is at +0.12% from its lowest and at -0.26% from its highest.1.0854
1.0895
1.0867
Here is a more detailed summary of the historical variations registered by EUR/USD:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/USD in 1H shows an overall bullish trend. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0791 | 1.0826 | 1.0862 | 1.0867 | 1.0953 | 1.1004 | 1.1108 |
| Change (%) | -0.70% | -0.38% | -0.05% | - | +0.79% | +1.26% | +2.22% |
| Change | -0.0076 | -0.0041 | -0.0005 | - | +0.0086 | +0.0137 | +0.0241 |
| Level | Minor | Minor | Intermediate | - | Major | 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 | 1.0760 | 1.0787 | 1.0837 | 1.0864 | 1.0914 | 1.0941 | 1.0991 |
| Camarilla | 1.0867 | 1.0874 | 1.0881 | 1.0888 | 1.0895 | 1.0902 | 1.0909 |
| Woodie | 1.0773 | 1.0793 | 1.0850 | 1.0870 | 1.0927 | 1.0947 | 1.1004 |
| Fibonacci | 1.0787 | 1.0816 | 1.0834 | 1.0864 | 1.0893 | 1.0911 | 1.0941 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0666 | 1.0695 | 1.0733 | 1.0762 | 1.0800 | 1.0829 | 1.0867 |
| Camarilla | 1.0753 | 1.0759 | 1.0765 | 1.0771 | 1.0777 | 1.0783 | 1.0789 |
| Woodie | 1.0671 | 1.0697 | 1.0738 | 1.0764 | 1.0805 | 1.0831 | 1.0872 |
| Fibonacci | 1.0695 | 1.0721 | 1.0736 | 1.0762 | 1.0788 | 1.0803 | 1.0829 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0266 | 1.0433 | 1.0550 | 1.0717 | 1.0834 | 1.1001 | 1.1118 |
| Camarilla | 1.0588 | 1.0614 | 1.0640 | 1.0666 | 1.0692 | 1.0718 | 1.0744 |
| Woodie | 1.0240 | 1.0421 | 1.0524 | 1.0705 | 1.0808 | 1.0989 | 1.1092 |
| Fibonacci | 1.0433 | 1.0542 | 1.0609 | 1.0717 | 1.0826 | 1.0893 | 1.1001 |
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): | 49.44 | |
| MACD (12,26,9): | 0.0002 | |
| Directional Movement: | -3.9403 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 1.0875 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0855 | |
| Elder Ray (13): | -0.0002 | |
| Super Trend (3,10): | 1.0890 | |
| Zig ZAG (10): | 1.0868 | |
| VORTEX (21): | 0.9091 | |
| Stochastique (14,3,5): | 51.54 | |
| TEMA (21): | 1.0868 | |
| Williams %R (14): | -51.72 | |
| Chande Momentum Oscillator (20): | -0.0006 | |
| Repulse (5,40,3): | -0.0053 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0063 | |
| Courbe Coppock: | 0.25 |
| MA7: | 1.0809 | |
| MA20: | 1.0745 | |
| MA50: | 1.0785 | |
| MA100: | 1.0822 | |
| MAexp7: | 1.0870 | |
| MAexp20: | 1.0870 | |
| MAexp50: | 1.0855 | |
| MAexp100: | 1.0831 | |
| Price / MA7: | +0.54% | |
| Price / MA20: | +1.14% | |
| Price / MA50: | +0.76% | |
| Price / MA100: | +0.42% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | +0.11% | |
| Price / MAexp100: | +0.33% |
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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EUR/USD Daily Forecast and Technical Analysis for May 16, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 15, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 14, 2024, by Chris Lewis for FX Empire
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This member declared not having a position on this financial instrument or a related financial instrument.
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