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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD
Trade Setup

#EURUSD
Total Profit: 230 pip
Closed trade(s): 0 pip Profit
Open trade(s): 230 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 1.0870 (day close price) based on 'Two-Day reversal Candle' at 2022.04.13.

Open Profit:
Profit for one trade is 1.0893(current price) - 1.0870(open price) = 23 pip
10 trade(s) still open, therefore total profit for open trade(s) is 23 x 10 = 230 pip

Trading suggestion:

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

DateApril 13, 2022 - 23:45
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.08055, beginning of uptrend is expected.
  • We make sure when the resistance at 1.11850 breaks.
  • If the support at 1.08055 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.08054 on 2022-03-07 and the trough at 1.08054 on 2022-04-14, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.08360 on 04/08/2022, so more gains to resistance(s) 1.09421, 1.10067, 1.10973 and maximum to Major Resistance (1.11850) 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 42.

Take Profits:

  1. 1.09421
  2. 1.10067
  3. 1.10973
  4. 1.11850
  5. 1.12735
  6. 1.14620
  7. 1.16909
  8. 1.19105
  9. 1.22650
Click on the level to view price action history.

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