EUR/USD - Weekly - Technical analysis published on 08/15/2024 (GMT)
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- 0
- Timeframe : Weekly
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- Status : IN PROGRESS...
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2
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This analysis was given by MarekP. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/USD price is 1.1009 USD. The price is up +0.86% over 5 days and has been traded over the last 5 days between 1.0910 USD and 1.1047 USD. This implies that the 5 day price is +0.91% from its lowest point and -0.34% from its highest point.1.0910
1.1047
1.1009
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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 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
Technical analysis of this Weekly chart of EUR/USD indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals 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, 15 technical indicators out of 18 analysed are currently 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
Pivot points : price is over resistance 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 resistance
Type : Bearish
Timeframe : Weekly
Near resistance of triangle
Type : Bearish
Timeframe : Weekly
Resistance of channel is broken
Type : Bullish
Timeframe : Weekly
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0129 | 1.0477 | 1.0907 | 1.1009 | 1.1235 | 1.1456 | 1.1723 |
| Change (%) | -7.99% | -4.83% | -0.93% | - | +2.05% | +4.06% | +6.49% |
| Change | -0.0880 | -0.0532 | -0.0102 | - | +0.0226 | +0.0447 | +0.0714 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0921 | 1.0954 | 1.0982 | 1.1015 | 1.1043 | 1.1076 | 1.1104 |
| Camarilla | 1.0994 | 1.1000 | 1.1005 | 1.1011 | 1.1017 | 1.1022 | 1.1028 |
| Woodie | 1.0920 | 1.0953 | 1.0981 | 1.1014 | 1.1042 | 1.1075 | 1.1103 |
| Fibonacci | 1.0954 | 1.0977 | 1.0991 | 1.1015 | 1.1038 | 1.1052 | 1.1076 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0734 | 1.0808 | 1.0862 | 1.0936 | 1.0990 | 1.1064 | 1.1118 |
| Camarilla | 1.0882 | 1.0894 | 1.0905 | 1.0917 | 1.0929 | 1.0941 | 1.0952 |
| Woodie | 1.0725 | 1.0803 | 1.0853 | 1.0931 | 1.0981 | 1.1059 | 1.1109 |
| Fibonacci | 1.0808 | 1.0857 | 1.0887 | 1.0936 | 1.0985 | 1.1015 | 1.1064 |
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 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): | 62.60 | |
| MACD (12,26,9): | 0.0032 | |
| Directional Movement: | 8.2575 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.0877 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0745 | |
| Elder Ray (13): | 0.0114 | |
| Super Trend (3,10): | 1.0619 | |
| Zig ZAG (10): | 1.1008 | |
| VORTEX (21): | 1.0425 | |
| Stochastique (14,3,5): | 83.30 | |
| TEMA (21): | 1.0907 | |
| Williams %R (14): | -10.24 | |
| Chande Momentum Oscillator (20): | 0.0161 | |
| Repulse (5,40,3): | 1.2090 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0084 | |
| Courbe Coppock: | 2.28 |
| MA7: | 1.0958 | |
| MA20: | 1.0895 | |
| MA50: | 1.0829 | |
| MA100: | 1.0804 | |
| MAexp7: | 1.0903 | |
| MAexp20: | 1.0845 | |
| MAexp50: | 1.0816 | |
| MAexp100: | 1.0823 | |
| Price / MA7: | +0.47% | |
| Price / MA20: | +1.05% | |
| Price / MA50: | +1.66% | |
| Price / MA100: | +1.90% | |
| Price / MAexp7: | +0.97% | |
| Price / MAexp20: | +1.51% | |
| Price / MAexp50: | +1.78% | |
| Price / MAexp100: | +1.72% |
Quotes :
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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 Continues to Grind Higher: Forecast & Technical Analysis by Chris Lewis (August 14)
-
EUR/USD Continues to Grind Away : Forecast & Technical Analysis by Chris Lewis (August 13)
-
EUR/USD Continues to Consolidate: Forecast & Technical Analysis by Chris Lewis (August 12)
-
EUR/USD Continues to See Uncertainty: Long Term Forecast by Chris Lewis (August 9)
-
EUR/USD Continues to Trade in a Range: Forecast & Technical Analysis by Chris Lewis (August 9)
This member declared not having a position on this financial instrument or a related financial instrument.
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