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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.3915 to 1.3960). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.3915)
    • Resistance on 05/08/2014
    • Resistance on 03/14/2014
    • Resistance on 03/13/2014
    • Resistance on 03/12/2014
    • Resistance on 03/07/2014
  • Ending of entry zone (1.3960)
    • Resistance on 05/08/2014
    • Resistance on 03/13/2014

DateMay 10, 2014 - 09:09
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.3995 on 05/09/2014, so more losses to support(s) 1.3710, 1.3640, 1.3475 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 40.

Take Profits:

  1. 1.3830
  2. 1.3710
  3. 1.3640
  4. 1.3475
  5. 1.3320
  6. 1.3165
  7. 1.2995
  8. 1.2755
  9. 1.2405
  10. 1.2160
  11. 1.1880
Click on the level to view price action history.

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