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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 (1.1510 to 1.1575). 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 (1.1510)
    • Support on 08/25/2015
    • Resistance on 05/04/2016
    • Support on 07/20/2017
    • Trough on 05/29/2018
    • Support on 05/29/2018
    • Support on 05/30/2018
    • Trough on 06/21/2018
    • Support on 06/21/2018
  • Ending of entry zone (1.1575)
    • Support on 10/27/2017
    • Support on 11/06/2017
    • Support on 11/07/2017
    • Support on 11/08/2017
    • Support on 06/18/2018
    • Support on 06/19/2018
    • Trough on 07/19/2018
    • Support on 07/19/2018
    • Support on 08/02/2018
    • Support on 08/08/2018

DateAugust 19, 2018 - 13:34
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.16300 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The RSI support #1 at 44 is broken, so the probability of continuation of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.1300 on 08/15/2018, so more gains to resistance(s) 1.1440, 1.1510, 1.1575 and maximum to Major Resistance (1.1630) 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. 1.1440
  2. 1.1310
  3. 1.1180
  4. 1.1000
  5. 1.0850
  6. 1.0335
Click on the level to view price action history.

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