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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: -456 pip
Closed trade(s): 0 pip Profit
Open trade(s): -456 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.1677 (day close price) based on 'Vale & Two-day reversal candle' at 2018.08.27 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Open Profit:
Profit for one trade is 1.1620(current price) - 1.1677(open price) = -57 pip
8 trade(s) still open, therefore total profit for open trade(s) is -57 x 8 = -456 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateSeptember 15, 2018 - 21:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.13000 would begin in Midterm.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1.15095 on 2018-05-29 and the trough at 1.13005 on 2018-08-15, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • While the RSI support #2 at 46 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 1.1525 on 09/10/2018, so more gains to resistance(s) 1.1740, 1.1840, 1.1925 and more heights 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 51.

Take Profits:

  1. 1.1740
  2. 1.1840
  3. 1.1925
  4. 1.1995
  5. 1.2075
  6. 1.2205
  7. 1.2555
Click on the level to view price action history.
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History
Daily-Trading-Opportunities on EURUSD.