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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: 216 pip
Closed trade(s): 41 pip Profit
Open trade(s): 175 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 1.2191 (day close price) based on 'Two-day reversal candle' at 2021.05.26 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.2150 touched at 2021.05.28 with 41 pip Profit.

Open Profit:
Profit for one trade is 1.2191(open price) - 1.2166(current price) = 25 pip
7 trade(s) still open, therefore total profit for open trade(s) is 25 x 7 = 175 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.

DateJune 5, 2021 - 21:08
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.23500, beginning of downtrend is expected.
  • We make sure when the support at 1.19850 breaks.
  • If the resistance at 1.23500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 51 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.2255 on 06/01/2021, so more losses to support(s) 1.2150, 1.2075 and minimum to Major Support (1.1985) 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 52.

Take Profits:

  1. 1.2150
  2. 1.2075
  3. 1.1985
  4. 1.1910
  5. 1.1815
  6. 1.1705
  7. 1.1600
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