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Weekly forecast Eidoo technical chart
Symbol EDOUSD

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Trade Setup
#EDOUSD
Total Profit: 888 pip (23%)
Closed trade(s): 888 pip Profit (23%)
Open trade(s): 0 pip Profit (0%)

Trade Setup:
We opened 10 BUY trade(s) @ 0.3887 based on 'Valley' entry method at 2020.11.23.

Closed Profit:
TP1 @ 0.4775 touched at 2020.12.06 with 888 pip Profit (23%).

9 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.2790 to 0.2325). 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 0.371, 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 0.371 and expect to reach short-term targets.

  • Beginning of entry zone (0.2790)
    • Support on 09/05/2019
    • Support on 09/12/2019
    • Support on 09/13/2019
    • Support on 09/14/2019
    • Support on 09/15/2019
    • Support on 09/24/2019
    • Support on 09/25/2019
    • Support on 09/26/2019
    • Support on 09/27/2019
    • Support on 10/11/2019
    • Support on 10/18/2019
    • Support on 10/19/2019
    • Support on 10/20/2019
    • Support on 10/22/2019
    • Support on 10/26/2019
    • Support on 10/27/2019
    • Support on 10/28/2019
    • Support on 10/30/2019
    • Support on 10/31/2019
    • Support on 11/01/2019
    • Support on 11/08/2019
    • Support on 11/19/2019
    • Support on 11/20/2019
    • Resistance on 12/08/2019
    • Resistance on 12/16/2019
    • Resistance on 02/16/2020
    • Resistance on 02/19/2020
    • Support on 05/28/2020
    • Support on 05/29/2020
    • Trough on 11/05/2020
    • Support on 11/05/2020
  • Ending of entry zone (0.2325)
    • Support on 11/21/2019
    • Support on 11/27/2019
    • Support on 11/28/2019
    • Support on 12/01/2019
    • Support on 12/02/2019
    • Support on 12/03/2019
    • Support on 12/08/2019
    • Support on 12/09/2019
    • Resistance on 12/16/2019
    • Resistance on 12/17/2019
    • Resistance on 02/07/2020
    • Resistance on 02/08/2020
    • Resistance on 02/09/2020
    • Resistance on 02/10/2020
    • Resistance on 02/24/2020
    • Resistance on 05/13/2020
    • Resistance on 05/15/2020
    • Resistance on 05/22/2020
    • Resistance on 05/23/2020

DateDecember 21, 2020 - 19:36
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.0340, beginning of uptrend is expected.
  • We make sure when the resistance at 0.4775 breaks.
  • If the support at 0.0340 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.5597 on 12/07/2020, so more losses to support(s) 0.3710, 0.2790, 0.2325 and minimum to Major Support (0.0340) 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 46.

Take Profits:

  1. 0.4775
  2. 0.5785
  3. 0.7255
  4. 0.8230
  5. 1.0395
  6. 1.3680
  7. 2.7205
  8. 3.5300
  9. 6.8690
Click on the level to view price action history.

Symbol Released Current Forecast
Eidoo (EDOUSD) Sun, 19 Sep 2021
Eidoo (EDOUSD) Sun, 12 Sep 2021
Eidoo (EDOUSD) Sun, 5 Sep 2021
Eidoo (EDOUSD) Sat, 28 Aug 2021
Eidoo (EDOUSD) Sat, 21 Aug 2021