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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup
#EURUSD
Total Profit: -1733 pip
Closed trade(s): 13 pip Profit
Open trade(s): -1746 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.1252 based on 'Valley' at 2019.07.10 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.1265 touched at 2019.07.11 with 13 pip Profit.

Open Profit:
Profit for one trade is 1.1058(current price) - 1.1252(open price) = -194 pip
9 trade(s) still open, therefore total profit for open trade(s) is -194 x 9 = -1746 pip

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.

DateDecember 7, 2019 - 17:39
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 1.0850, beginning of uptrend is expected.
  • We make sure when the resistance at 1.1265 breaks.
  • If the support at 1.0850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • There is a divergence in RSI and price between the trough at 1.09255 on 2019-09-03 and the trough at 1.08785 on 2019-10-01, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.1116 on 12/04/2019, so more losses to support(s) 1.1040, 1.0925 and minimum to Major Support (1.0850) 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 51.

Take Profits:

  1. 1.1265
  2. 1.1345
  3. 1.1450
  4. 1.1570
  5. 1.1725
  6. 1.1865
  7. 1.2030
  8. 1.2230
  9. 1.2555
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / US Dollar (EURUSD) Sun, 2 Aug 2020
Euro / US Dollar (EURUSD) Sun, 26 Jul 2020
Euro / US Dollar (EURUSD) Sat, 18 Jul 2020
Euro / US Dollar (EURUSD) Sat, 11 Jul 2020
Euro / US Dollar (EURUSD) Sat, 4 Jul 2020