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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: 1956 pip
Closed trade(s): 644 pip Profit
Open trade(s): 1312 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.
TP2 @ 1.2075 touched at 2021.06.16 with 116 pip Profit.
TP3 @ 1.1985 touched at 2021.06.17 with 206 pip Profit.
TP4 @ 1.1910 touched at 2021.06.17 with 281 pip Profit.
41 + 116 + 206 + 281 = 644 pip

Open Profit:
Profit for one trade is 1.2191(open price) - 1.1863(current price) = 328 pip
4 trade(s) still open, therefore total profit for open trade(s) is 328 x 4 = 1312 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 20, 2021 - 21:45
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 1.2350 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

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.
  • The RSI support #1 at 51 is broken, so the probability of continuation of downtrend is increased.
  • A peak is formed in daily chart at 1.2255 on 06/01/2021, so more losses to support(s) 1.1815, 1.1705, 1.1600 and more depths 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 27.

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, 31 Jul 2021
Euro / US Dollar (EURUSD) Sat, 24 Jul 2021
Euro / US Dollar (EURUSD) Sun, 18 Jul 2021
Euro / US Dollar (EURUSD) Sat, 10 Jul 2021
Euro / US Dollar (EURUSD) Sun, 4 Jul 2021