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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 30, 2020 - 22:49
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.12400, beginning of downtrend is expected.
  • We make sure when the support at 1.09900 breaks.
  • If the resistance at 1.12400 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.1006 on 05/21/2020, so more losses minimum to Major Support (1.0990) 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 66.

Supports and Resistances:

  1. 1.2555
  2. 1.2230
  3. 1.2030
  4. 1.1865
  5. 1.1725
  6. 1.1570
  7. 1.1450
  8. 1.1345
  9. 1.0350
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / US Dollar (EURUSD) new Sun, 17 Mar 2024
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