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Weekly forecast Eidoo technical chart
Symbol EDOUSD

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Trading suggestion:

Price is in the Trend Hunter Buy Zone (0.1935 to 0.1700).

While the price is below the level 0.270, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 0.270 and expect to reach short-term targets.

  • Beginning of entry zone (0.1935)
    • Support on 10/09/2019
    • Support on 10/10/2019
    • Support on 11/25/2019
    • Support on 12/18/2019
    • Support on 12/19/2019
    • Support on 12/20/2019
    • Support on 12/23/2019
    • Support on 12/24/2019
    • Support on 12/25/2019
    • Support on 12/26/2019
    • Support on 12/27/2019
    • Support on 12/28/2019
    • Support on 12/29/2019
    • Support on 01/05/2020
    • Support on 01/06/2020
    • Resistance on 01/08/2020
    • Resistance on 01/09/2020
    • Resistance on 01/11/2020
    • Resistance on 01/12/2020
    • Resistance on 01/14/2020
    • Resistance on 01/18/2020
    • Resistance on 01/21/2020
    • Resistance on 01/22/2020
    • Resistance on 01/23/2020
    • Resistance on 01/24/2020
    • Resistance on 01/25/2020
  • Ending of entry zone (0.1700)
    • Support on 11/25/2019
    • Support on 01/08/2020
    • Support on 01/10/2020
    • Support on 01/14/2020
    • Support on 01/15/2020
DateJanuary 26, 2020 - 17:26
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.5785 would begin in Midterm.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • There is a divergence in RSI and price between the trough at 0.2695 on 2019-09-07 and the trough at 0.167 on 2019-11-25, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.1675 on 11/25/2019, so more gains to resistance(s) 0.1935, 0.2700, 0.3700 and maximum to Major Resistance (0.5785) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 44.

Take Profits:

  1. 0.3700
  2. 0.4775
  3. 0.5785
  4. 0.8230
  5. 1.0395
  6. 1.4515
  7. 2.7205
  8. 3.5300
  9. 6.8690
Click on the level to view price action history.
Symbol Released Current Forecast
Eidoo (EDOUSD) Sun, 19 Sep 2021
Eidoo (EDOUSD) Sun, 12 Sep 2021
Eidoo (EDOUSD) Sun, 5 Sep 2021
Eidoo (EDOUSD) Sat, 28 Aug 2021
Eidoo (EDOUSD) Sat, 21 Aug 2021
History
Daily-Trading-Opportunities on EDOUSD.