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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup
#EURUSD
Total Profit: -7 pip
Closed trade(s): 0 pip Profit
Open trade(s): -7 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 1.1659 (day close price) based on 'Peak' at 2020.09.23 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Open Profit:
Profit for one trade is 1.1659(open price) - 1.1660(current price) = -1 pip
7 trade(s) still open, therefore total profit for open trade(s) is -1 x 7 = -7 pip

Trading suggestion:

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

DateSeptember 23, 2020 - 21:36
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.20100, beginning of downtrend is expected.
  • We make sure when the support at 1.14850 breaks.
  • If the resistance at 1.20100 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 52 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.2010 on 09/01/2020, so more losses to support(s) 1.1600 and minimum to Major Support (1.1485) 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 36.

Take Profits:

  1. 1.1600
  2. 1.1485
  3. 1.1410
  4. 1.1170
  5. 1.0635
  6. 1.0350
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / US Dollar (EURUSD) Sat, 23 Mar 2024
Euro / US Dollar (EURUSD) Sun, 17 Mar 2024
Euro / US Dollar (EURUSD) free Sat, 9 Mar 2024
Euro / US Dollar (EURUSD) Sat, 2 Mar 2024
Euro / US Dollar (EURUSD) Sun, 25 Feb 2024