forex euro dollar

euro dollar monthly july 2020

Euro Dollar exchange Forex forecast today using the Gann technique

Euro Dollar exchange forecast today through the theory of the US economist W.D. Gann.

Euro Dollar exchange forecast short term forecasts

The first quarter 2020 has been a very important period for the short and medium-term dynamics in the Euro Dollar Forex market.

From a flattening of the implied volatility for the entire 2019 period, in the early February the weekly returns have begun to increase: in particular during the time signals of the 6-13 March, repeatedly indicated in the previous articles, Euro Dollar market had an important positive acceleration.

From area 1.07, Euro has quickly reached the 1X4 angular resistances descending with origin the tops of February 2018, in area 1.1490.

After four months the prices have reached the same level showing a much more consolidated progressive strength compared to last March.

After reaching in March the 1X4 downward dynamic resistance radiated from software in purple, the European currency has collapsed going below the point of origin of the positive force.

The market has reabsorbed that positive movement and negative correction that had brought returns four times higher than the natural drift of Euro Dollar with a lateral dynamics.

The dimension of time in fact is re-balanced with that of the price during the trading period range lasted through April until mid-May.

The Weekly Sets Up of 29.05 and 05.06 has indicated the end of the horizontal movement and the beginning of directional recovery of the single currency.

The Euro, in fact, from the minimum at 1.0869 level has reached again the dynamic resistance that in March had rejected progressive strength.

However, this time we did not have a clear repelling action, but two more lateral weeks close to this resistance.

The weekly Sets Up of 10^th and 17^th July, indicated in the previous reports, have provided a clear indication of the continuation of Euro positivity, which in this case has been confirmed also in the medium term, given the positive infringement of the descending angular resistance.

We observe in the short video the dynamics for the week of July 27^th together with the management of a small portfolio on the Forex market.

Euro Usd medium term forecast

Euro Dollar trend in the medium term is more evident in the monthly time frame: the 1X1 and 1X2 Zero angles respectively irradiated in red and yellow have in fact absorbed the negative acceleration during the bearish out-side in March.

After two months of inside, April and May, the Euro Dollar market in June breaks the swing chart upwards, reversing the trend positively.

The monthly Set Up expiring is July 2020.

In these days the single currency has confirmed the upward trend, but in order for the signal to be considered objectively positive it will be necessary to wait for the end of the month.

The technical article is created using Stock Exchange Top Trader© software.