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Weekly forecast Eidoo technical chart
Symbol EDOUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.2325 to 0.1700). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.2325)
    • Support on 11/21/2019
    • Support on 11/27/2019
    • Support on 11/28/2019
    • Support on 12/01/2019
    • Support on 12/02/2019
    • Support on 12/03/2019
    • Support on 12/08/2019
    • Support on 12/09/2019
    • Resistance on 12/16/2019
    • Resistance on 12/17/2019
    • Resistance on 02/07/2020
    • Resistance on 02/08/2020
    • Resistance on 02/09/2020
    • Resistance on 02/10/2020
    • Resistance on 02/24/2020
    • Resistance on 05/13/2020
    • Resistance on 05/15/2020
    • Resistance on 05/22/2020
    • Resistance on 05/23/2020
  • 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
    • Support on 02/27/2020
    • Support on 02/28/2020
    • Resistance on 03/11/2020
    • Resistance on 05/01/2020
    • Resistance on 05/03/2020
    • Resistance on 05/06/2020
    • Resistance on 05/07/2020
    • Resistance on 05/11/2020
    • Support on 05/13/2020
DateAugust 30, 2020 - 14:07
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.7625 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 0.8094 on 08/22/2020, so more gains to resistance(s) 1.0395, 1.2105, 1.3680 and more heights 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 46.

Take Profits:

  1. 0.3545
  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.