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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.04705 to 1.03500). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.04705)
  • Ending of entry zone (1.03500)

DateJune 18, 2022 - 11:43
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:

  • The double bottoms taking shape.
  • A trough is formed in daily chart at 1.03585 on 06/15/2022, so more gains to resistance(s) 1.05160, 1.06426 and maximum to Major Resistance (1.08055) 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 43.

Take Profits:

  1. 1.06426
  2. 1.08055
  3. 1.09485
  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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