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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: 656 pip
Closed trade(s): 656 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 11 SELL trade(s) @ 1.1952 (day close price) based on 'Peak' at 2017.09.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.1875 touched at 2017.09.13 with 77 pip Profit.
TP2 @ 1.1710 touched at 2017.10.03 with 242 pip Profit.
TP3 @ 1.1615 touched at 2017.10.27 with 337 pip Profit.
77 + 242 + 337 = 656 pip

All 8 trades closed at entry price, therefore no profit no loss.
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.1960 to 1.2070). 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 (1.1960)
    • Resistance on 11/27/2017
    • Resistance on 09/22/2017
    • Resistance on 09/21/2017
    • Resistance on 09/18/2017
    • Resistance on 09/15/2017
    • Resistance on 09/01/2017
    • Support on 08/29/2017
  • Ending of entry zone (1.2070)
    • Resistance on 09/08/2017
    • Peak on 08/29/2017
    • Resistance on 08/29/2017
    • Resistance on 01/02/2015

DateDecember 2, 2017 - 09:07
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 1.1810 on 11/30/2017, so more gains maximum to Trend Hunter Sell Zone (1.1960 to 1.2070) 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 61.

Take Profits:

  1. 1.1875
  2. 1.1710
  3. 1.1615
  4. 1.1495
  5. 1.1320
  6. 1.1140
  7. 1.0850
  8. 1.0715
  9. 1.0520
  10. 1.0335
Click on the level to view price action history.

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