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

#EURUSD
Total Profit: 1473 pip
Closed trade(s): 97 pip Profit
Open trade(s): 1376 pip Profit

Trade Setup:
We opened 9 BUY trades @ 1.05461 based on 'Valley' entry method at 2022-05-17.

Closed Profit:
TP1 @ 1.06426 touched at 2022-05-23 with 97 pip Profit.

Open Profit:
Profit for one BUY trade is 1.07184(current price) - 1.05461(open price) = 172 pip
8 trade(s) still open, therefore total profit for open trade(s) is 172 x 8 = 1376 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.

DateJune 4, 2022 - 14:17
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.03500, beginning of uptrend is expected.
  • We make sure when the resistance at 1.08055 breaks.
  • If the support at 1.03500 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 1.04706 on 2022-04-28 and the trough at 1.03533 on 2022-05-12, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.07850 on 05/30/2022, so more losses to support(s) 1.06426, 1.05160, 1.04705 and minimum to Major Support (1.03500) 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 54.

Take Profits:

  1. 1.06426
  2. 1.08055
  3. 1.09421
  4. 1.11850
  5. 1.14620
  6. 1.16909
  7. 1.19105
  8. 1.22650
Click on the level to view price action history.

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