EURUSD Technical Analysis by GetKnowTrading

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EURUSD Forecast – $1.06400 Bulls Target - Get Know Trading

EURUSD Forecast – $1.06400 Bulls Target

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Just in two days the price returned and reached $1.04700.

On Friday we have a small retrace where traders have exited from trades and taken the profit from the strong move upwards.

With strong bullish candles and breaking some critical levels to the upside we can look for the price on higher levels.

The candle closed above previous candles body highs which is a good signal to look expect the price on the higher levels.

 

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EURUSD Forecast – $1.08300 Bulls Targeting Monthly Triangle - Get Know Trading

EURUSD Forecast – $1.08300 Bulls Targeting Monthly Triangle

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price reached higher levels like $1.06400 which was a high on the last bullish attempt.

After breaking above resistance levels the price returned down to $1.06736 and verified the level as a support.

We can see currency strength meter showing EUR much stronger than USD currency which is confirming the bulls strength.

And the price will likely test resistance and price around $1.08300 which is close to the monthly trendline.

$1.07825 is the first step and it is a base for bullish attempts to attack higher levels.

 

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EURUSD Forecast – $1.06736 Support That Needs to Hold - Get Know Trading

EURUSD Forecast – $1.06736 Support That Needs to Hold

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The price reached $1.07825 resistance and made a retrace back down to $1.06736 where it bounced back up, but returned down and broke below $1.06736 support level.

Next week we could see a price close to $1.06736 because the price closed the week below previous week close price and this week open price.

$1.06736 is now a base for buyers which they will defend and it will be a base for future moves to the higher price.

We now have $1.06736 as a support that will decide if the price moves down or up.

 

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EURUSD Forecast – $1.03920 Target - Get Know Trading

EURUSD Forecast – $1.03920 Target

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The price moved higher and reached a $1.07825 supply zone which was too hard to break.

From there the price returned down and formed a strong bearish engulfing candle that closed the day below previous weekly false breakout downwards.

Next week we could see a price close to $1.05825 which will be a breakout confirmation.

The possible level for the price to reach is $1.05600, which is high on the previous reversal attempts after sell off so we can expect the same reaction and target.

 

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EURUSD Forecast – $1.03920 Still the Target - Get Know Trading

EURUSD Forecast – $1.03920 Still the Target

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The demand around $1.03920 was a strong area and the price could not break further down.

On Friday we had a small bearish candle that had a wick below $1.05087 support level, but the day closed at the demand zone around $1.05087.

The price has closed the Friday below previous day candles bodies which is the first step to move further down.

But, as the market now looks at the weekly and monthly time frame the $1.03920 is still the next week target.

 

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The $1.05087 and $1.05825 range is holding the price.

In the middle of the week we have a price trying to break outside of the range area above resistance $1.05825 level, but the price returned inside quickly.

We have now indecision for the price which must be defined by the breakout on the upside or downside.

The current support $1.05087 is stronger than $1.05825 as a resistance so this could be a decision factor next week.

 

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EURUSD Forecast – $1.02975 Daily, Weekly and Monthly Target - Get Know Trading

EURUSD Forecast – $1.02975 Daily, Weekly and Monthly Target

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On Monday the price had a false breakout from the range area to the upside where the next day the price returned back inside the range area.

On the last two days the price reached the previous two weeks target $1.03920 and bounced from the support.

If the price manages to close the day below $1.03920 then we would have price moving to long term target $1.02975.

If we take these three time frames into calculation the EURUSD price will move down around 200 pips from the current price.

 

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EURUSD Forecast – $0.99134 as EUR/USD Parity Target - Get Know Trading

EURUSD Forecast – $1.02975 Daily, Weekly and Monthly TargetEURUSD Forecast – $0.99134 as EUR/USD Parity Target

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On Monday we had an indecision candle where the bulls tried to push the price up, but the price closed the day close to the open price.

We can see the price has entered into the downtrend channel and reached the demand zone and bounced back to test the downtrend channel resistance line.

The pin bar has formed right on the support level which is weekly and monthly support that had retraced in the past.

We can use this price action signal on the support level and look for the exit on the first resistance at $1.02975.

 

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EURUSD Forecast – $0.99134 Still As a Target - Get Know Trading

EURUSD Forecast – $0.99134 Still As a Target

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The price has moved strongly down on Monday and on Tuesday the price reached parity.

The Friday closed above previous days bodies close so it is a small indication price could move upwards.

The price is now in the downtrend channel and supply zone above could push the price down.

A small retrace to the first resistance could be all that we could see from bulls.

 

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EURUSD Forecast – Bullish Breakout Confirmed Targeting $1.02975 - Get Know Trading

EURUSD Forecast – $0.99134 Still As a TargetEURUSD Forecast – Bullish Breakout Confirmed Targeting $1.02975

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The price on Monday has made a first step to make a breakout reaching first resistance level $1.01368 and breaking above with a wick

This was a small signal the price will reach a higher level because the small breakout from the previous week’s small range.

The next week’s target is to break above $1.02975 resistance level.

Because the price is right in the middle between support and resistance levels it is good to wait until the price reaches a lower level close to $1.01368