The euro currency has fallen to a fresh 2019 trading low against the US dollar, hitting 1.1135, as the greenback continues to surge higher across the board. The technical picture for the EURUSD pair is increasingly bearish, with price now trading below the neckline of the head shoulders pattern. The next major downside target for EURUSD sellers is likely to be the...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.118.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.114.
TP4: S2=1.112.
Set the stoploss of these orders at breakout of R2=1.119.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
Midterm forecast:
While the price is below the resistance 1.1500, beginning of downtrend is expected.
We make sure when the support at 1.1320 breaks.
If the resistance at 1.1500 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis :
A peak is formed in daily chart at 1.1475 on 04/23/2019, so more losses to support(s)...
The euro has come back under pressure against the greenback as the US dollar index advances to its highest level since June 2017. The EURUSD pair is heavily bearish while trading below the 1.1216 level, with the 1.1175 level critical support below. The bearish head and shoulders pattern on the four-hour time frame is showing that the EURUSD pair could fall towards...
The euro currency continues to edge higher against the US dollar in early Tuesday trade, following a breakout above the 1.1250 level. If buyers hold price above the 1.1250 level the EURUSD pair faces strong weekly technical resistance from the 1.1280 level. Both the Momentum and the MACD indicators on the four-hour time frame are correcting from oversold...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=125.85.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=126.3.
TP4: R2=126.5.
Set the stoploss of these orders at breakout of S2=125.65.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (125.85). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
EURUSD 1.1216 major support
The euro currency is attempting to correct higher against the US dollar in early week trading, amidst quiet market conditions. Technical indicators on the lower time frames have now corrected from oversold conditions, with EURUSD the pair still struggling to break past the 1.1250 resistance level. Sellers need to breach the 1.1216...
Midterm forecast:
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5360 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.129.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.1325.
TP4: R2=1.1345.
Set the stoploss of these orders at breakout of S2=1.128.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Midterm forecast:
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5115 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the resistance #1 at 48 and it prevented price from more gains.
A peak is...
Midterm forecast:
While the price is below the resistance 1.7390, beginning of downtrend is expected.
We make sure when the support at 1.6325 breaks.
If the resistance at 1.7390 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak...
A new trend has emerged with a breakout and retest from the previous downtrend line signalling a new change in trend for the short term.
Expect the price to continue with its Higher High- Higher Low trend support!
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.
Technical analysis:
A peak is formed in daily chart at 1.6780 on 01/03/2019, so more losses to support(s) 1.5670, 1.5530, 1.5345 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=124.1.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=125.
TP4: R2=125.25.
Set the stoploss of these orders at breakout of S2=123.9.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Euro-US Dollar contracts are presently at a make or break level, forming a scallop in a downtrend, Whether they will continue the downtrend or, reverse and breakout the linear resistance to complete the Rounding Bottom with an implied target of 1.18 from the present 1.14 (It is presently forming a flag with some conslidation near the resistance)
It has been...
Midterm forecast:
While the price is above the support 1.1300, beginning of uptrend is expected.
We make sure when the resistance at 1.1615 breaks.
If the support at 1.1300 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...
