Euro Dollar exchange forecast today at 09-10-20 using Gann’s cycles By Francesco Massetti Posted on 6 October 2020 Condividi su Facebook Condividi su Twitter Condiviso su Google+ Condiviso su Pinterest Condiviso su Linkedin Condiviso su Tumblr euro dollar forecast euro dollar monthly 10.02.20 Euro Dollar exchange forecast today in short and medium term Euro Dollar exchange forecast at 09-10-20. The analysis will be carry out using the studies of the economist W.D. Gann. euro dollar weekly 10.02.20 Short term Euro Dollar exchange forecast 2020 has been a fundamental year for the Euro because in the long run there were important cyclical deadlines that changed the dynamics of the trend. The effects of this change have already been seen in the first quarter, particularly in the month of March. In the previous period of the end of 2019, the implied volatility of the options had reached its negative record. But as this important deadline approached, its surge was immediately noticed. In a few weeks the market has going from 1.06 area to a maximum at 1.1236. On the weekly top of March 13, we observe in the photo just above an angular vector with origin on the weekly maximum of February 16, 2018 passing by. The embryonic driving force that arose in early March was therefore immediately rejected by the dynamic resistance just described and generated a bearish out-side visible on the monthly time frame. In fact, in the week of March 20, the prices went well below the February low. More precisely, the Euro reached 1.0636. This massive corrective activity, contrasted with the upward force generated in the first quarter, has created a new lateral dynamic. In fact, we have witnessed the formation of minimums and maximums in an area between 1.0980 and 1.0770. Again, the decline in returns produced a new deflation of volatility, with serious consequences for traders who opened positions on the lows and tried to hedge the draw-dow of long contracts. The lateral phase, as we had described in previous articles, has ended with the weekly cycle of May 29, 2020. In fact, on this occasion the European currency has accelerated the recovery phase, allowing the single currency to reach 1.14 area in mid-June Looking again at the graph just above, the 1X4 descending angular resistance of purple color has generated a new obstacle just in this period of June. This time the upward force, more strongly strengthened by the previous lateral exit, has broken this dynamic obstacle, managing to bring the prices of the single currency in the 1.19 area in the month of August. In this case we can observe how the 1X8 descending angular resistance of blue color has brought the dynamics of the trend, in an initially positive, subsequently negative laterality. In fact, from the weekly top of September 4, 2020 at 1.2011, the Euro has progressively attenuated returns with a laterality that lasted until the weekly Set Up of September 18, 2020 The market has progressively started a corrective phase, reaching 1X1 ascending angular supports at 1.1613. Next Set Up weekly: 09 October 2020. We observe in the video here below the levels of negative acceleration or trend inversion with the relative supports and dynamic resistances. Medium term Eur Usd forecast euro dollar monthly 10.02.20 If in the short term the dynamics is negative and the next cycle will have to confirm this corrective activity, in the medium term the signal appears clear. As can be seen in the photo above, the medium-term positive trend reversal in March was generated mainly by two 1X2 Zero angles which absorbed the attempts to further negativity in the currency. After the positive exit in the dynamic cycle that expired in July, the Euro seemed destined to reach the top of 2018. The time cycle expiring in September seems to want to postpone this goal to next year. In fact, during the month of September the market has generated a bearish out-side. The month of October, which coincides with an important natural deadline, will have to confirm this negative trend. It has recently been seen that bearish out-side cases were negated by the next cycle, such as in the Gold market. As described in the video, beyond a specific threshold the European currency will reach the 1X2 Zero angular supports that last March had led to the spring-summer rally. The Euro Dollar analysis with the Gann technique was possible thanks to the Top Trader© Stock Exchange software.
