EUR/USD - 1H - Technical analysis published on 05/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 1.0826 USD
My targets
1.0895 USD (+0.0026)
1.0953 USD (+0.0084)
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/USD as long as the price remains well above 1.0826 USD. The buyers' bullish objective is set at 1.0895 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.0953 USD. If there is any crossing, the next objective would be the resistance located at 1.1004 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
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
7.3
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/USD rating is 1.0869 USD. On the day, this instrument gained +0.01% and was traded between 1.0835 USD and 1.0879 USD over the period. The price is currently at +0.31% from its lowest and -0.09% from its highest.1.0835
1.0879
1.0869
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/USD chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. 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, 14 technical indicators out of 18 analysed are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Pivot points : price is over resistance 3
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 : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 | 1.0767 | 1.0826 | 1.0862 | 1.0869 | 1.0876 | 1.0895 | 1.0953 |
| Change (%) | -0.94% | -0.40% | -0.06% | - | +0.06% | +0.24% | +0.77% |
| Change | -0.0102 | -0.0043 | -0.0007 | - | +0.0007 | +0.0026 | +0.0084 |
| Level | Major | Minor | Intermediate | - | Intermediate | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0809 | 1.0831 | 1.0850 | 1.0872 | 1.0891 | 1.0913 | 1.0932 |
| Camarilla | 1.0857 | 1.0861 | 1.0864 | 1.0868 | 1.0872 | 1.0876 | 1.0879 |
| Woodie | 1.0807 | 1.0830 | 1.0848 | 1.0871 | 1.0889 | 1.0912 | 1.0930 |
| Fibonacci | 1.0831 | 1.0847 | 1.0857 | 1.0872 | 1.0888 | 1.0898 | 1.0913 |
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): | 55.78 | |
| MACD (12,26,9): | -0.0001 | |
| Directional Movement: | 10.8440 | |
| AROON (14): | 28.5714 | |
| DEMA (21): | 1.0857 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0838 | |
| Elder Ray (13): | 0.0012 | |
| Super Trend (3,10): | 1.0840 | |
| Zig ZAG (10): | 1.0868 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 83.30 | |
| TEMA (21): | 1.0856 | |
| Williams %R (14): | -25.00 | |
| Chande Momentum Oscillator (20): | 0.0013 | |
| Repulse (5,40,3): | 0.0581 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0049 | |
| Courbe Coppock: | 0.08 |
| MA7: | 1.0826 | |
| MA20: | 1.0756 | |
| MA50: | 1.0783 | |
| MA100: | 1.0820 | |
| MAexp7: | 1.0861 | |
| MAexp20: | 1.0859 | |
| MAexp50: | 1.0857 | |
| MAexp100: | 1.0841 | |
| Price / MA7: | +0.40% | |
| Price / MA20: | +1.05% | |
| Price / MA50: | +0.80% | |
| Price / MA100: | +0.45% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.11% | |
| Price / MAexp100: | +0.26% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on EUR/USD at the time of the analysis were as follows:
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EUR/USD Long Term Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
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EUR/USD Daily Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire
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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
This member declared not having a position on this financial instrument or a related financial instrument.
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