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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: 1302 pip
Closed trade(s): 216 pip Profit
Open trade(s): 1086 pip Profit
_______________________________________________
Trade Setup:
We opened 8 SELL trade(s) @ 1.1403 (day close price) based on 'Shooting Star' at 2016.05.06 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/EURUSD...

Closed Profit:
TP1 @ 1.1375 touched at 2016.05.09 with 28 pip Profit.
TP2 @ 1.1215 touched at 2016.05.18 with 188 pip Profit.
28 + 188 = 216 pip

Open Profit:
Profit for one trade is 1.1403(open price) - 1.1222(current price) = 181 pip
6 trade(s) still open, therefore total profit for open trade(s) is 181 x 6 = 1086 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.1465 to 1.1710). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.1465)
    • Resistance on 05/06/2016
    • Resistance on 04/29/2016
    • Peak on 04/14/2016
    • Peak on 04/13/2016
    • Peak on 04/12/2016
    • Resistance on 04/12/2016
    • Resistance on 09/18/2015
    • Support on 08/25/2015
    • Peak on 05/19/2015
    • Peak on 05/18/2015
    • Peak on 05/15/2015
    • Resistance on 05/15/2015
    • Support on 01/16/2015
  • Ending of entry zone (1.1710)
    • Resistance on 08/24/2015
DateMay 21, 2016 - 08:59
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 1.1445 on 05/12/2016, so more losses to support(s) 1.1215, 1.1140, 1.1050 and more depths 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 40.

Take Profits:

  1. 1.1375
  2. 1.1215
  3. 1.1140
  4. 1.1050
  5. 1.0825
  6. 1.0715
  7. 1.0460
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.