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

#EURUSD
Total Profit: 8873 pip
Closed trade(s): 3681 pip Profit
Open trade(s): 5190 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 1.07258(current price) - 0.9861(open price) = 865 pip
6 trade(s) still open, therefore total profit for open trade(s) is 865 x 6 = 5190 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateMay 28, 2023 - 16:59
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.10920, beginning of downtrend is expected.
  • We make sure when the support at 1.05080 breaks.
  • If the resistance at 1.10920 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.05080 is broken.

Technical analysis:

  • The triple tops taking shape.
  • There is a divergence in RSI and price between the peak at 1.102966 on 2023-02-01 and the peak at 1.10946 on 2023-04-26, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.10910 on 05/04/2023, so more losses to support(s) 1.07136, 1.05454 and minimum to Major Support (1.05080) 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 34.

Supports and Resistances:

  1. 1.22781
  2. 1.19105
  3. 1.16909
  4. 1.14620
  5. 1.11853
  6. 1.09485
  7. 1.07850
  8. 1.05454
  9. 1.03700
  10. 1.01979
  11. 1.00000
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / US Dollar (EURUSD) Sun, 14 Apr 2024
Euro / US Dollar (EURUSD) Sun, 14 Apr 2024
Euro / US Dollar (EURUSD) Sat, 6 Apr 2024
Euro / US Dollar (EURUSD) Sat, 30 Mar 2024
Euro / US Dollar (EURUSD) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on EURUSD.