EURUSD Weekly Update

EURUSD Weekly Update

10 October 2017, 14:38
Mohammad Mohi
0
91

Last week:
During last week, market went bearish, dropping to as low as 1.1669.
Market was opened on Monday at 1.1789, it rises to its maximum price at 1.1814 on Mon, 10/02/2017 - 01:30, then it drops to its minimum price at 1.1669 on Fri, 10/06/2017 - 15:30 and finally it was closed on Friday at 1.1734.

Technical analysis:

  • A peak is formed in daily chart at 1.2035 on Wed, 09/20/2017, so more loses to support(s) 1.1715, 1.1615, 1.1495 and to more depths 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 42.
  • Current short-term is range bound, but beginning of downtrend is expected.

Trading suggestion:
There is possibility of temporary retracement to suggested resistance zone (1.2040 to 1.2070), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.2040)
  • Ending of entry zone (1.2070)

Supports and Resistances:

  1. 1.1875
  2. 1.1715
  3. 1.1615
  4. 1.1495
  5. 1.1320
  6. 1.1140
  7. 1.0850
  8. 1.0715
  9. 1.0520
  10. 1.0335

EURUSD Weekly Update 2017-10-06

#EURUSD
Total Profit: 2276 pip
Closed trade(s): 314 pip Profit
Open trade(s): 1962 pip Profit
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Trade Setup:
We opened 11 SELL trade(s) @ 1.1952 (day close price) based on 'Peak' at 2017.09.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 1.1875 touched at 2017.09.13 with 77 pip Profit.
TP2 @ 1.1715 touched at 2017.10.03 with 237 pip Profit.
77 + 237 = 314 pip

Open Profit:
Profit for one trade is 1.1952(open price) - 1.1734(current price) = 218 pip
9 trade(s) still open, therefore total profit for open trade(s) is 218 x 9 = 1962 pip
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