eur usd forecast today

Eur Usd weekly 06.05.2020

Eur Usd forecast today Euro Dollar change cyclical analysis

Eur Usd forecast today Euro Dollar change has been developed using the technique of the American economist W.D. Gann.

Euro Usd short term forecasts

Since the end of last October, Euro Dollar market has started a series of modifications in the directional dynamics of price-time.

In that period the European currency have definitively abandoned the 1X2 descendent angular resistances  (yellow colored on the slide) on the basis of important temporal signals. So the currency ended its negative lateral dynamics which have characterized the whole 2019.

New dynamic obstacles has blocked a significant ascendant development, such as the 1X4 descendant dynamic resistance (purple colored) with origin in September 2018.

In the first weeks of 2020 the single currency has begun a substantial negative retracement. An important angular support, visible in the medium term, has blocked this retracement.

In conjunction with this dynamic obstacle, the expiry of the weekly Set Ups of 06-13 March has caused the beginning of a new propulsive phase. We have widely described this Set Ups in the previous reports.

The exchanges has reached the following 1X4 angular descendant resistance with origin the tops of the week of 16^th February 2018 and 30^th march 2018, at 1,1492 level.

The following retracement has been very strong, so it has reached a minimum at 1,0636 level, creating a bearish outside in the monthly time.

The following temporal Set Ups, in March and April, have caused a lasting trading range. This trading range is ended with a positive directional exit at the end of May.

In the previous article we have described the weekly time cycles in expiration of 29^th May such as indicators of the end of the laterality and the 1X4 angular descendant resistance at 1,1380 level which has avoided the further evolution of the positivity of Euro in the week of 6^th March.

In this video we can observe the next temporal signals and the Euro-Dollar price-time targets.

Euro Dollar medium term trend

The Zero angle (represented with the ascendant yellow vector on the slide) has provoked a change in the medium term dynamics in the period between last February and March.

Although the shadows of the candles show some remarkable minimums, the closures has been ended above this vector, which has origin from the top of July 2008.

The next monthly Set Up in expiration will be July 2020.

In this article, Euro-Dollar Forex analysis using Gann’s theory has been realized thanks to Top Trader© software.