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

#EURUSD
Total Profit: 9287 pip
Closed trade(s): 3681 pip Profit
Open trade(s): 5604 pip Profit

Trade Setup:
We opened 13 BUY trades @ 0.9861 based on 'Hammer' entry method at 2022-10-21.

Closed Profit:

TP1 @ 1.00000 touched at 2022-10-26 with 139 pip Profit.
TP2 @ 1.01979 touched at 2022-11-10 with 337 pip Profit.
TP3 @ 1.03700 touched at 2022-11-15 with 509 pip Profit.
TP4 @ 1.05454 touched at 2022-12-05 with 684 pip Profit.
TP5 @ 1.07850 touched at 2023-01-12 with 924 pip Profit.
TP6 @ 1.09485 touched at 2023-02-01 with 1088 pip Profit.
139 + 337 + 509 + 684 + 924 + 1088 = 3681 pip

Open Profit:
Profit for one BUY trade is 1.0795(current price) - 0.9861(open price) = 934 pip
6 trade(s) still open, therefore total profit for open trade(s) is 934 x 6 = 5604 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.
  • If the Midterm level 1.03700 is broken, we will close open trades.

DateFebruary 4, 2023 - 21:34
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.03700, resumption of uptrend is expected.
  • We make sure when the resistance at 1.11886 breaks.
  • If the support at 1.03700 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.03700 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 1.10318 on 02/02/2023, so more losses to support(s) 1.07850, 1.06200, 1.05454 and minimum to Major Support (1.03700) 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 51.

Take Profits:

  1. 1.00000
  2. 1.01979
  3. 1.03700
  4. 1.05454
  5. 1.07850
  6. 1.09485
  7. 1.11886
  8. 1.14620
  9. 1.16909
  10. 1.19105
  11. 1.22781
Click on the level to view price action history.

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