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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 Buy Zone (1.1325 to 1.1300). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 1.1430, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 1.1430 and expect to reach short-term targets.

  • Beginning of entry zone (1.1325)
    • Support on 05/15/2015
    • Resistance on 05/19/2015
    • Resistance on 06/04/2015
    • Resistance on 06/08/2015
    • Resistance on 06/09/2015
    • Resistance on 06/10/2015
    • Resistance on 06/11/2015
    • Resistance on 06/16/2015
    • Resistance on 08/27/2015
    • Resistance on 08/28/2015
    • Resistance on 09/01/2015
    • Resistance on 09/02/2015
    • Resistance on 09/15/2015
    • Resistance on 09/16/2015
    • Resistance on 09/21/2015
    • Resistance on 10/02/2015
    • Resistance on 10/08/2015
    • Support on 10/16/2015
    • Support on 10/19/2015
    • Support on 10/20/2015
    • Support on 10/21/2015
    • Resistance on 02/09/2016
    • Resistance on 02/10/2016
    • Resistance on 02/11/2016
    • Resistance on 02/12/2016
    • Resistance on 03/17/2016
    • Resistance on 03/18/2016
    • Support on 03/31/2016
    • Support on 04/01/2016
    • Support on 04/05/2016
    • Support on 04/06/2016
    • Resistance on 04/26/2016
    • Resistance on 04/27/2016
    • Resistance on 05/18/2016
    • Resistance on 06/10/2016
    • Resistance on 06/21/2016
    • Resistance on 06/22/2016
    • Resistance on 08/16/2016
    • Resistance on 08/17/2016
    • Resistance on 08/22/2016
    • Resistance on 08/23/2016
    • Resistance on 08/26/2016
    • Resistance on 09/08/2016
    • Support on 07/05/2017
    • Support on 07/06/2017
    • Support on 08/14/2018
    • Support on 08/15/2018
    • Support on 11/09/2018
    • Resistance on 11/12/2018
    • Resistance on 11/14/2018
    • Support on 11/16/2018
    • Support on 11/23/2018
    • Support on 11/26/2018
    • Support on 12/03/2018
    • Support on 12/04/2018
    • Support on 12/05/2018
    • Support on 12/06/2018
  • Ending of entry zone (1.1300)
    • Resistance on 06/14/2017
    • Trough on 08/15/2018
    • Support on 08/15/2018
    • Trough on 10/31/2018
    • Support on 10/31/2018
    • Resistance on 11/13/2018
    • Support on 11/30/2018

DateDecember 9, 2018 - 19:35
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.11800, beginning of uptrend is expected.
  • We make sure when the resistance at 1.15300 breaks.
  • If the support at 1.11800 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 1.13005 on 2018-08-15 and the trough at 1.12155 on 2018-11-12, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 1.1305 on 11/30/2018, so more gains to resistance(s) 1.1430 and maximum to Major Resistance (1.1530) 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 50.

Take Profits:

  1. 1.1530
  2. 1.1615
  3. 1.1725
  4. 1.1815
  5. 1.1885
  6. 1.2045
  7. 1.2235
  8. 1.2555
Click on the level to view price action history.

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