EUR / USD - Weekly forecast - Technical Analysis & Trading Ideas

前天

Midterm forecast (Daily TF):

• 1.0777 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  
• A peak is formed in daily chart at 1.0629 on 12/06/2024, so more losses to support(s) 1.0332, 1.0206, 1.0002 and more depths is expected.
  

Trading suggestion:
There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.0669 to 1.0777). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

• Beginning of entry zone (1.0669)
  
• Ending of entry zone (1.0777)
  

Take Profits:

1. 1.0600
   
2. 1.0517
   
3. 1.0445
   
4. 1.0332
   
5. 1.0206
   

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ForecastCity Support Team