ForecastCity_EU
Long

There is possibility for the beginning of an up trend in EURUSD

FX:EURUSD   Euro / U.S. Dollar
Midterm forecast:
. While the price is above the support 1.0990, beginning of Uptrend is expected.
. We make sure when the Resistance at 1.14950 breaks.
. If the suppor at 1.0990 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
. The ascending flag taking shape suggests we will soon see another leg higher.
. While the RSI uptrend #1 is not broken, bullish wave in price would continue.
. A peak is formed in daily chart at 1.1350 on 06/23/2020, so more losses to support(s) 1.1145 and minimum to Major Support (1.0990) 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 53.

Supports and Resistances:
S1= 1.1145
S2= 1.0990
S3= 1.0880
S4= 1.0765
S5= 1.0635

R1= 1.1345
R2= 1.1495
R3= 1.1570
R4= 1.1725
R5= 1.1865
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Comments

thanks for your ideas
+1 Reply
@Kamryn, 👍
+1 Reply
This is such a complete analysis
+1 Reply
@Kristalyn, 👍
+1 Reply
This is such a complete analysis, I will keep an eye on this!
+1 Reply
ForecastCity_EU Shiva_forex
@Shiva_forex, 👍
+1 Reply
Your Analysis was simply superb. I am great fan and follower of your analysis. Keep up the good work. God bless you.
Reply
Nice chart. Thanks
Reply
love it
Reply
you guys are great
Reply
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