EURUSD Technical Analysis by GetKnowTrading

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

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What we can see from the start of the week is that the price has moved to $1.19037 and from there reversed back up next to resistance level at $1.20000.

From there the price returned back down and ended the week with the close right on the support level.

I am still bearish oriented because the price is returning back to support level at $1.19037. It means the selling pressure is strong and eventually will break down.

 

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EURUSD Forecast - $1.19000 as a Possible Sell Entry - Get Know Trading

$1.19000 as a Possible Sell Entry

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On Tuesday the price has strongly broken below $1.19000 which was a sign of bears strength.

$1.17000 is lower end of the old range area so I am expecting to see the price first reaching $1.17500 and then reversing back up to around $1.19000.

This could be a nice opportunity to catch the selling wave down to $1.17000.

 

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EURUSD Forecast – $1.18400 as a Possible Sell Entry - Get Know Trading

$1.18400 as a Possible Sell Entry EURUSD Forecast –

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Strong selling pressure pushed the price down to $1.17203 support level where the minimum price $1.17030 was reached.

It will not be too easy to break below $1.17000 support, so I am expecting the price to reach $1.18400 which is the level that previous bullish candles has reached after hitting $1.17200 support.

Looking on the weekly chart it looks like it is ready to move down to reach $1.16183 support level.

 

[Ken_T]

So do you think we will break the top of the channel?

 

[GetKnowTrading]

So do you think we will break the top of the channel?

It could be a false break with bearish signal which will indicate a one more test on $1.17000 and possible break below that level.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

www.getknowtrading.com

The price reverse happened and the $1.18400 was reached as was said in the previous weekly analysis.

But, the price managed to get out from the descending channel and reach major resistance at $1.19000.

f the price ends next week above $1.19000 then it will move market sentiment to slightly bullish.

If the price manages to close above $1.20800 then the next resistance is at $1.21080.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

www.getknowtrading.com

After last week engulfing candle the pair has found strength to move 100 pips up and reach key level at $1.20000.

As I said in the previous week analysis the price will look more bullish if it closes above $1.19000.

Now I can say that the market really looks bullish and I expect the price to reach $1.20800 which is major resistance for the pair.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

www.getknowtrading.com

The price played out just like it was mentioned in the previous week’s analysis.

The price broke above $1.20000 and reached $1.20800 level.

Resistance at $1.21800 is stronger resistance and it will play a major role for the price to break above and to reach levels above $1.22000.

If the price manages to close above $1.22000 it will have a clear path to $1.23000 as a new high.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

www.getknowtrading.com

The price managed to reach some highs, but not $1.21800 which is the next resistance.

Now the price has returned back down close to $1.20000 which now acts as a support.

The price will likely stay here in the range between $1.20000 and $1.21800 before trying to break above $1.21800.

 

[GetKnowTrading]

EURUSD Forecast - Get Know Trading

EURUSD Forecast for the next week on a daily time frame with previous week analysis based on the price action analysis. Check what will happen on EURUSD

www.getknowtrading.com

The week has ended with the price close to $1.21800 level which is now resistance for the pair.
The resistance area around $1.21800 was active two weeks ago.

I am expecting the price to go down around the $1.20800 level and find support for the next attack upside.

The next target is $1.22000 which is strong resistance that prevented the price from stabilizing to make a next move to $1.25000.