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Trend Hunter performance since 2015 for this symbol

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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 (1.1840 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
    • 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 11/28/2017
    • 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

DateSat, 08/04/2018 - 16:18
Currentrange bound
Forecastresumption of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 1.2090, resumption of downtrend is expected.
  • We make sure when the support at 1.1510 breaks.
  • If the resistance at 1.2090 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg lower if price breaks and closes below the uptrend line of the triangle.
  • 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 resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • The RSI support #2 at 44 is broken, so the probability of resumption of downtrend is increased.
  • A peak is formed in daily chart at 1.1745 on 07/31/2018, so more losses minimum to Major Support (1.1510) 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 39.

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) Sat, 23 May 2020
Euro / US Dollar (EURUSD) Sat, 16 May 2020
Euro / US Dollar (EURUSD) Sat, 9 May 2020
Euro / US Dollar (EURUSD) Sat, 2 May 2020
Euro / US Dollar (EURUSD) Sat, 25 Apr 2020