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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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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 16, 2017 - 17:32
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 peak is formed in daily chart at 1.1860 on 12/14/2017, so more losses to support(s) 1.1710, 1.1615, 1.1495 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 46.

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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