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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.

DateJune 13, 2020 - 20:44
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.14950, beginning of downtrend is expected.
  • We make sure when the support at 1.09900 breaks.
  • If the resistance at 1.14950 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 1.1425 on 06/10/2020, so more losses to support(s) 1.1240, 1.1145 and 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 62.

Supports and Resistances:

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

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