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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.1840 to 1.1960). 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 (1.1840)
    • Resistance on 08/11/2017
    • Resistance on 08/14/2017
    • Support on 08/31/2017
    • Support on 09/01/2017
    • Trough on 09/14/2017
    • Support on 09/14/2017
    • Support on 09/25/2017
    • Resistance on 09/29/2017
    • Resistance on 10/13/2017
    • Resistance on 10/26/2017
    • Resistance on 11/15/2017
    • Support on 11/24/2017
    • Support on 11/30/2017
    • Support on 12/04/2017
    • Resistance on 12/06/2017
    • Resistance on 12/14/2017
    • Resistance on 12/18/2017
    • Resistance on 12/19/2017
    • Support on 05/08/2018
    • Support on 05/09/2018
    • Support on 05/10/2018
    • Peak on 06/07/2018
    • Resistance on 06/07/2018
    • Resistance on 06/14/2018
  • Ending of entry zone (1.1960)
    • Support on 08/29/2017
    • Resistance on 09/01/2017
    • Resistance on 09/15/2017
    • Resistance on 09/18/2017
    • Resistance on 09/21/2017
    • Resistance on 09/22/2017
    • Peak on 11/27/2017
    • Resistance on 11/27/2017
    • Resistance on 12/28/2017
    • Support on 01/08/2018
    • Resistance on 05/11/2018
    • Resistance on 05/14/2018
DateJuly 15, 2018 - 20:17
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 a downtrend wave below 1.20900 would begin in Midterm.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.151 on 2018-05-29 and the trough at 1.151 on 2018-06-21, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.1790 on 07/09/2018, so more losses to support(s) 1.1615, 1.1510, 1.1440 and more depths 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 49.

Take Profits:

  1. 1.1700
  2. 1.1615
  3. 1.1510
  4. 1.1440
  5. 1.1180
  6. 1.0850
  7. 1.0335
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.