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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: 553 pip
Closed trade(s): 63 pip Profit
Open trade(s): 490 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...

Closed Profit:
TP1 @ 1.1740 touched at 2018.09.20 with 63 pip Profit.

Open Profit:
Profit for one trade is 1.1747(current price) - 1.1677(open price) = 70 pip
7 trade(s) still open, therefore total profit for open trade(s) is 70 x 7 = 490 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 21, 2018 - 21:30
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.13000, beginning of uptrend is expected.
  • We make sure when the resistance at 1.18400 breaks.
  • If the support at 1.13000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

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.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 60.

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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