Londinia Opportunities Analyses - 05/03/2024 (GMT) EUR/USD - 1H
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
- FX/Indices
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.0729 USD
My targets
1.0765 USD (+0.0022)
1.0862 USD (+0.0119)
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 1.0729 USD. The next resistance located at 1.0765 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 1.0862 USD. After this resistance, buyers could then target 1.0951 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.
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
8.8
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Additional analysis
Quotes
The EUR/USD price is 1.0743 USD. The price has increased by +0.12% since the last closing with the lowest point at 1.0724 USD and the highest point at 1.0744 USD. The deviation from the price is +0.18% for the low point and -0.01% for the high point.1.0724
1.0744
1.0743
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
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 | 1.0678 | 1.0708 | 1.0729 | 1.0743 | 1.0753 | 1.0765 | 1.0862 |
| Change (%) | -0.61% | -0.33% | -0.13% | - | +0.09% | +0.20% | +1.11% |
| Change | -0.0065 | -0.0035 | -0.0014 | - | +0.0010 | +0.0022 | +0.0119 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Minor | Intermediate |
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 | 1.0635 | 1.0655 | 1.0692 | 1.0712 | 1.0749 | 1.0769 | 1.0806 |
| Camarilla | 1.0714 | 1.0720 | 1.0725 | 1.0730 | 1.0735 | 1.0741 | 1.0746 |
| Woodie | 1.0645 | 1.0659 | 1.0702 | 1.0716 | 1.0759 | 1.0773 | 1.0816 |
| Fibonacci | 1.0655 | 1.0676 | 1.0690 | 1.0712 | 1.0733 | 1.0747 | 1.0769 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0499 | 1.0561 | 1.0628 | 1.0690 | 1.0757 | 1.0819 | 1.0886 |
| Camarilla | 1.0659 | 1.0670 | 1.0682 | 1.0694 | 1.0706 | 1.0718 | 1.0730 |
| Woodie | 1.0501 | 1.0562 | 1.0630 | 1.0691 | 1.0759 | 1.0820 | 1.0888 |
| Fibonacci | 1.0561 | 1.0611 | 1.0641 | 1.0690 | 1.0740 | 1.0770 | 1.0819 |
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): | 65.07 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 10.0600 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.0738 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0723 | |
| Elder Ray (13): | 0.0007 | |
| Super Trend (3,10): | 1.0711 | |
| Zig ZAG (10): | 1.0743 | |
| VORTEX (21): | 1.1713 | |
| Stochastique (14,3,5): | 78.02 | |
| TEMA (21): | 1.0741 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 0.0019 | |
| Repulse (5,40,3): | 0.1437 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0112 | |
| Courbe Coppock: | 0.39 |
| MA7: | 1.0713 | |
| MA20: | 1.0704 | |
| MA50: | 1.0795 | |
| MA100: | 1.0839 | |
| MAexp7: | 1.0735 | |
| MAexp20: | 1.0727 | |
| MAexp50: | 1.0714 | |
| MAexp100: | 1.0707 | |
| Price / MA7: | +0.28% | |
| Price / MA20: | +0.36% | |
| Price / MA50: | -0.48% | |
| Price / MA100: | -0.89% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.15% | |
| Price / MAexp50: | +0.27% | |
| Price / MAexp100: | +0.34% |
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 Forecast May 3, 2024
-
EUR/USD Daily Forecast and Technical Analysis for May 02, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for May 01, 2024, by Chris Lewis for FX Empire
-
EUR/USD Daily Forecast and Technical Analysis for April 30, 2024, by Chris Lewis for FX Empire
-
Weekly Technical Outlook: 29/04/2024 - USDJPY, EURUSD, Oil