EUR/USD - Weekly - Technical analysis published on 08/04/2024 (GMT)
- 148
- 0
- Timeframe : Weekly
- - Analysis generated on
- Status : IN PROGRESS...
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above
My targets
()
()
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 . The buyers' bullish objective is set at . A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at . If there is any crossing, the next objective would be the resistance located at . 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
8.6
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This analysis was given by Edd8011. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/USD rating 1.0910 USD. The price is up +0.50% over 5 days and has been traded over the last 5 days between 1.0777 USD and 1.0927 USD. This implies that the 5 day price is +1.23% from its lowest point and -0.16% from its highest point.1.0777
1.0927
1.0910
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
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
Technical analysis of EUR/USD in Weekly shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : Weekly
In fact, 16 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 1.0477 | 1.0693 | 1.0907 | 1.0910 | 1.1235 | 1.1723 | 1.2486 |
Change (%) | -3.97% | -1.99% | -0.03% | - | +2.98% | +7.45% | +14.45% |
Change | -0.0433 | -0.0217 | -0.0003 | - | +0.0325 | +0.0813 | +0.1576 |
Level | Major | Major | Intermediate | - | Intermediate | Minor | Major |
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 | 1.0673 | 1.0728 | 1.0818 | 1.0873 | 1.0963 | 1.1018 | 1.1108 |
Camarilla | 1.0869 | 1.0882 | 1.0896 | 1.0909 | 1.0922 | 1.0936 | 1.0949 |
Woodie | 1.0692 | 1.0737 | 1.0837 | 1.0882 | 1.0982 | 1.1027 | 1.1127 |
Fibonacci | 1.0728 | 1.0783 | 1.0817 | 1.0873 | 1.0928 | 1.0962 | 1.1018 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.0665 | 1.0721 | 1.0815 | 1.0871 | 1.0965 | 1.1021 | 1.1115 |
Camarilla | 1.0868 | 1.0882 | 1.0895 | 1.0909 | 1.0923 | 1.0937 | 1.0950 |
Woodie | 1.0684 | 1.0731 | 1.0834 | 1.0881 | 1.0984 | 1.1031 | 1.1134 |
Fibonacci | 1.0721 | 1.0778 | 1.0814 | 1.0871 | 1.0928 | 1.0964 | 1.1021 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.0469 | 1.0589 | 1.0707 | 1.0827 | 1.0945 | 1.1065 | 1.1183 |
Camarilla | 1.0759 | 1.0780 | 1.0802 | 1.0824 | 1.0846 | 1.0868 | 1.0890 |
Woodie | 1.0467 | 1.0589 | 1.0705 | 1.0827 | 1.0943 | 1.1065 | 1.1181 |
Fibonacci | 1.0589 | 1.0680 | 1.0736 | 1.0827 | 1.0918 | 1.0974 | 1.1065 |
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): | 56.75 | |
MACD (12,26,9): | 0.0020 | |
Directional Movement: | 1.8740 | |
AROON (14): | 78.5714 | |
DEMA (21): | 1.0846 | |
Parabolic SAR (0,02-0,02-0,2): | 1.0722 | |
Elder Ray (13): | 0.0076 | |
Super Trend (3,10): | 1.0592 | |
Zig ZAG (10): | 1.0907 | |
VORTEX (21): | 1.0122 | |
Stochastique (14,3,5): | 81.46 | |
TEMA (21): | 1.0865 | |
Williams %R (14): | -14.54 | |
Chande Momentum Oscillator (20): | 0.0039 | |
Repulse (5,40,3): | 0.6037 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0010 | |
Courbe Coppock: | 1.74 |
MA7: | 1.0846 | |
MA20: | 1.0865 | |
MA50: | 1.0813 | |
MA100: | 1.0794 | |
MAexp7: | 1.0865 | |
MAexp20: | 1.0827 | |
MAexp50: | 1.0808 | |
MAexp100: | 1.0818 | |
Price / MA7: | +0.59% | |
Price / MA20: | +0.41% | |
Price / MA50: | +0.90% | |
Price / MA100: | +1.07% | |
Price / MAexp7: | +0.41% | |
Price / MAexp20: | +0.77% | |
Price / MAexp50: | +0.94% | |
Price / MAexp100: | +0.85% |
Quotes :
-
Real time data
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Forex
News
Don't forget to follow the news on EUR/USD. At the time of publication of this analysis, the latest news was as follows:
- EUR/USD Long Term Forecast and Technical Analysis for August 02, 2024, by Chris Lewis for FX Empire
- EUR/USD Daily Forecast and Technical Analysis for July 30, 2024, by Chris Lewis for FX Empire
- Trade of the week: short EUR/USD
- EUR/USD Daily Forecast and Technical Analysis for July 29, 2024, by Chris Lewis for FX Empire
- EUR/USD Long Term Forecast and Technical Analysis for July 26, 2024, by Chris Lewis for FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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