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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: 5587 pip
Closed trade(s): 699 pip Profit
Open trade(s): 4888 pip Profit
_______________________________________________
Trade Setup:
We opened 16 BUY trade(s) @ 1.0622 (day close price) based on 'Valley' at 2017.03.03 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/EURUSD...

Closed Profit:
TP1 @ 1.0715 touched at 2017.03.15 with 93 pip Profit.
TP2 @ 1.0850 touched at 2017.03.27 with 228 pip Profit.
TP3 @ 1.1000 touched at 2017.05.05 with 378 pip Profit.
93 + 228 + 378 = 699 pip

Open Profit:
Profit for one trade is 1.0998(current price) - 1.0622(open price) = 376 pip
13 trade(s) still open, therefore total profit for open trade(s) is 376 x 13 = 4888 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.0520 to 1.0335). 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 (1.0520)
    • Support on 03/09/2017
    • Support on 03/01/2017
    • Support on 02/22/2017
    • Support on 02/21/2017
    • Trough on 02/15/2017
    • Support on 02/15/2017
    • Support on 01/11/2017
    • Support on 01/09/2017
    • Support on 01/06/2017
    • Resistance on 01/03/2017
    • Resistance on 01/02/2017
    • Resistance on 12/30/2016
    • Support on 12/14/2016
    • Support on 12/12/2016
    • Support on 12/09/2016
    • Support on 12/05/2016
    • Support on 11/24/2016
    • Support on 11/23/2016
    • Support on 12/03/2015
    • Trough on 04/15/2015
    • Support on 04/14/2015
    • Trough on 04/14/2015
    • Support on 04/13/2015
    • Trough on 04/13/2015
    • Support on 03/12/2015
    • Support on 03/11/2015
    • Support on 03/21/2003
  • Ending of entry zone (1.0335)
    • Support on 01/03/2017

DateMay 6, 2017 - 10:56
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 1.0570 on 04/10/2017, so more gains to resistance(s) 1.1000, 1.1140, 1.1365 and more heights 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 69.

Take Profits:

  1. 1.0715
  2. 1.0850
  3. 1.1000
  4. 1.1140
  5. 1.1365
  6. 1.1615
  7. 1.1875
  8. 1.2035
  9. 1.2660
  10. 1.3520
  11. 1.3960
  12. 1.4240
  13. 1.4940
  14. 1.5140
  15. 1.6020
Click on the level to view price action history.

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