EUR/USD - 1H - Technical analysis published on 12/05/2024 (GMT)
- 101
- 0
- Who voted?
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 1.0570 USD
My targets
1.0597 USD (+0.0011)
1.0679 USD (+0.0093)
My analysis
EUR/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.0570 USD. The next resistance located at 1.0597 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.0679 USD. After this resistance, buyers could then target 1.0783 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by chrisray208. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/USD rating is 1.0586 USD. The price registered an increase of +0.70% on the session and was traded between 1.0508 USD and 1.0590 USD over the period. The price is currently at +0.74% from its lowest and -0.04% from its highest.1.0508
1.0590
1.0586
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/USD indicates that the overall trend is strongly bullish. 92.86% 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. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Moving Average bullish crossovers : AMA50 & AMA100
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
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:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0530 | 1.0545 | 1.0570 | 1.0586 | 1.0597 | 1.0679 | 1.0783 |
| Change (%) | -0.53% | -0.39% | -0.15% | - | +0.10% | +0.88% | +1.86% |
| Change | -0.0056 | -0.0041 | -0.0016 | - | +0.0011 | +0.0093 | +0.0197 |
| Level | Intermediate | Major | Minor | - | Minor | 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 | 1.0403 | 1.0437 | 1.0475 | 1.0509 | 1.0547 | 1.0581 | 1.0619 |
| Camarilla | 1.0492 | 1.0499 | 1.0505 | 1.0512 | 1.0519 | 1.0525 | 1.0532 |
| Woodie | 1.0404 | 1.0438 | 1.0476 | 1.0510 | 1.0548 | 1.0582 | 1.0620 |
| Fibonacci | 1.0437 | 1.0465 | 1.0482 | 1.0509 | 1.0537 | 1.0554 | 1.0581 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0297 | 1.0361 | 1.0469 | 1.0533 | 1.0641 | 1.0705 | 1.0813 |
| Camarilla | 1.0530 | 1.0546 | 1.0561 | 1.0577 | 1.0593 | 1.0609 | 1.0624 |
| Woodie | 1.0319 | 1.0372 | 1.0491 | 1.0544 | 1.0663 | 1.0716 | 1.0835 |
| Fibonacci | 1.0361 | 1.0427 | 1.0467 | 1.0533 | 1.0599 | 1.0639 | 1.0705 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9690 | 1.0012 | 1.0294 | 1.0616 | 1.0898 | 1.1220 | 1.1502 |
| Camarilla | 1.0411 | 1.0466 | 1.0522 | 1.0577 | 1.0632 | 1.0688 | 1.0743 |
| Woodie | 0.9671 | 1.0002 | 1.0275 | 1.0606 | 1.0879 | 1.1210 | 1.1483 |
| Fibonacci | 1.0012 | 1.0242 | 1.0385 | 1.0616 | 1.0846 | 1.0989 | 1.1220 |
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): | 73.15 | |
| MACD (12,26,9): | 0.0018 | |
| Directional Movement: | 18.2745 | |
| AROON (14): | 35.7142 | |
| DEMA (21): | 1.0580 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0547 | |
| Elder Ray (13): | 0.0019 | |
| Super Trend (3,10): | 1.0544 | |
| Zig ZAG (10): | 1.0587 | |
| VORTEX (21): | 1.2443 | |
| Stochastique (14,3,5): | 93.24 | |
| TEMA (21): | 1.0590 | |
| Williams %R (14): | -5.80 | |
| Chande Momentum Oscillator (20): | 0.0061 | |
| Repulse (5,40,3): | 0.1133 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0206 | |
| Courbe Coppock: | 1.00 |
| MA7: | 1.0544 | |
| MA20: | 1.0551 | |
| MA50: | 1.0762 | |
| MA100: | 1.0892 | |
| MAexp7: | 1.0579 | |
| MAexp20: | 1.0558 | |
| MAexp50: | 1.0537 | |
| MAexp100: | 1.0528 | |
| Price / MA7: | +0.40% | |
| Price / MA20: | +0.33% | |
| Price / MA50: | -1.64% | |
| Price / MA100: | -2.81% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.27% | |
| Price / MAexp50: | +0.47% | |
| Price / MAexp100: | +0.55% |
Quotes :
-
Real time data
-
Forex
News
The last news published on EUR/USD at the time of the generation of this analysis was as follows:
-
EUR/USD Forecast December 5, 2024
-
EUR/USD Forecast November 29, 2024
-
EUR/USD Forecast November 28, 2024
-
Technical Outlook on NZUDSD, USDJPY, EURUSD
-
EUR/USD Forecast November 11, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis EUR/USD - 1H