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Weekly forecast Eidoo technical chart
Symbol EDOUSD

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Trade Setup

#EDOUSD
Total Profit: 9696 pip (156%)
Closed trade(s): 0 pip Profit (0%)
Open trade(s): 9696 pip Profit (156%)

Trade Setup:
We opened 12 BUY trade(s) @ 0.6278 based on 'Valley' entry method at 2021.07.23.

Open Profit:
Profit for one trade is 0.7086(current price) - 0.6278(open price) = 808 pip (13%)
12 trade(s) still open, therefore total profit for open trade(s) is 808 (13%) x 12 = 9696 pip (156%)

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJuly 31, 2021 - 18:43
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 0.4775, beginning of uptrend is expected.
  • We make sure when the resistance at 1.3680 breaks.
  • If the support at 0.4775 is broken, the short-term forecast -beginning of uptrend- will be invalid.

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 0.715 on 2021-05-23 and the trough at 0.6095 on 2021-06-27, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 0.5395 on 07/20/2021, so more gains to resistance(s) 0.7155, 0.7810, 0.8790 and maximum to Major Resistance (1.3680) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

Take Profits:

  1. 0.7810
  2. 0.8790
  3. 1.0000
  4. 1.2105
  5. 1.3680
  6. 1.6080
  7. 1.8315
  8. 2.2060
  9. 2.7205
  10. 3.1755
  11. 3.5300
Click on the level to view price action history.

Symbol Released Current Forecast
Eidoo (EDOUSD) Sun, 12 Sep 2021
Eidoo (EDOUSD) Sun, 5 Sep 2021
Eidoo (EDOUSD) Sat, 28 Aug 2021
Eidoo (EDOUSD) Sat, 21 Aug 2021
Eidoo (EDOUSD) free Sat, 14 Aug 2021