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Weekly forecast Euro / US Dollar technical chart
Symbol EURUSD

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Trade Setup

#EURUSD
Total Profit: 536 pip
Closed trade(s): 0 pip Profit
Open trade(s): 536 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 1.1490 based on 'Hammer' at 2018.10.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Open Profit:
Profit for one trade is 1.1557(current price) - 1.1490(open price) = 67 pip
8 trade(s) still open, therefore total profit for open trade(s) is 67 x 8 = 536 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.
DateOctober 13, 2018 - 17:46
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 1.18000 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 support #1 at 46 is broken, so the probability of beginning of uptrend is decreased.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

Take Profits:

  1. 1.1615
  2. 1.1715
  3. 1.1800
  4. 1.1925
  5. 1.2075
  6. 1.2205
  7. 1.2555
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.