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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup
#EURUSD
Total Profit: 1016 pip
Closed trade(s): 194 pip Profit
Open trade(s): 822 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 1.2217 (day close price) based on 'Peak' at 2021.01.08 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.2165 touched at 2021.01.11 with 52 pip Profit.
TP2 @ 1.2075 touched at 2021.01.15 with 142 pip Profit.
52 + 142 = 194 pip

Open Profit:
Profit for one trade is 1.2217(open price) - 1.2080(current price) = 137 pip
6 trade(s) still open, therefore total profit for open trade(s) is 137 x 6 = 822 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.

DateJanuary 16, 2021 - 19:20
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 1.2350, beginning of downtrend is expected.
  • We make sure when the support at 1.2010 breaks.
  • If the resistance at 1.2350 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.2350 on 01/06/2021, so more losses to support(s) 1.2075 and minimum to Major Support (1.2010) 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 43.

Take Profits:

  1. 1.2165
  2. 1.2075
  3. 1.2010
  4. 1.1910
  5. 1.1815
  6. 1.1735
  7. 1.1600
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / US Dollar (EURUSD) new Sat, 6 Mar 2021
Euro / US Dollar (EURUSD) free Sun, 28 Feb 2021
Euro / US Dollar (EURUSD) Sun, 21 Feb 2021
Euro / US Dollar (EURUSD) Sat, 13 Feb 2021
Euro / US Dollar (EURUSD) Sat, 6 Feb 2021