Euro Dollar 2020 forecast : trend analyzed with Gann technique

Euro Dollar 2020 forecast
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Euro Dollar 2020 forecast: trend and analysis of the last quarter of the year  

Euro Dollar 2020 forecast: trend and analysis seen through the perspective of the theory of the American economist W.D. Gann.

Euro Dollar analysis graphs

eur usd forecast today
euro dollar weekly 11.06.20

Short term Euro Dollar forecast today

The time cycle expired in March 2020 has been very important in the Euro Dollar market.

Indeed it marked the beginning of a turning point in dynamics.

The second half of 2019 has been characterized by a market with a negative lateral price-time trend with an implied volatility of the options, which reached an historical low of 3.5%, given the low daily and weekly return.

However, the Open Interest curve was starting to grow positively, testifying to the interest in new bullish positions of large investors.

Indeed, in 2020, already from early February, we have seen the formation of large weekly candles, with high peaks in trading volume.

The first upward movement in March and more precisely in the weeks of March 6-13 was immediately rejected by the 1X4 descending angular resistance, visible on the photo just above in purple color.

Following the negative retracement and the further accumulation area between the weeks of March 27 and May 22, the Euro Dollar market has started the long-term Bull-campaign.

In fact, we have predicted in recent reports that the single currency would trigger an important driving force from the weekly Set Up of 29 May.

Indeed, the Euro has first broken the angular resistance previously described in the week of July 17.

Subsequently in the first week of last September, the currency has reached the new angular obstacles such as the 1X8 resistance, radiated by the Top Trader© software in blue at the 1.2011 level.

During the summer we have observed how the European currency has repeatedly tried to break this resistance, without succeeding.

This partial distribution has generated the conditions for an inversion, which however was been blocked by the 1X1 ascending angles, radiated in red.

The weeks of October has coincided with several temporal signals that has generated conflicting competing forces.

In fact, weeks with bearish and bullish breaks are visible, which have followed one another regularly.

The last week of October has been characterized by a negative closure, far below the natural drift.

However, the November 6th Set Up has reversed the trend again, triggering a strong upward action that has created a bullish out-side.

Both the short and the long run are positive. We will see how there will soon be a reversal also in the medium term.

Let’s see in the short video the next price-time target, the supports and the dynamic resistances.

Euro Dollar exchange medium term forecasts

euro dollar analysis tecnique
euro dollar monthly 11.06.20

In the medium term we can observe how the 1X2 Zero angles, radiated with yellow color, have changed the trend from the March 2020 Set Up.

In particular, the second lower angle has intercepted its lows, not only in March but also in the following months of April and May 2020.

The medium-term Up trend, strengthened by the Set Up of last July, was partially blocked by the descending angle 1X8 and by the temporal cycle that expired last September, which has generated a bearish out-side.

However, the Natural Square expired in October has generated a discordant force compared to the September cycle.

This observation can be confirmed by the end of October in inside and from the attempt, already at early November, to generate such a driving force as to negate the corrective trend of September.

Indeed if the Euro reaches 1.2040, it will re-establish medium-term positivity.

You can find resistances and supports in the short video just above.

Euro Dollar quaterly technical analysis

The long-term trend is positive, although resistances can be found that will hold back the ascending activity at 1.2211.

Technical analysis with Top Trader© software

Technical and cyclical analysis with the theory of W.D. Gann was realized thanks to the use of Top Trader© software, accessible from this blog.

 

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